LS Industrial Systems Expands Customized Smart Factory Construction for SMEs

LS Industrial Systems has contributed 3 billion KRW to the Foundation for Large and Small Enterprises and Agriculture-Fishery Cooperation to expand the establishment of smart factories aimed at enhancing the manufacturing competitiveness of small and medium-sized enterprises. The photo shows an LS Industrial Systems official inspecting the production line at the Cheongju smart factory.

Photo by LS Industrial Systems

[Asia Economy Reporter Ki-min Lee] LS Industrial Systems has embarked on expanding the establishment of smart factories to enhance the manufacturing competitiveness of small and medium-sized enterprises (SMEs).

On the 21st, LS Industrial Systems announced that it held a signing ceremony for a mutual cooperation fund agreement to support the establishment of win-win type smart factories for large and small-medium enterprises at LS Tower in Anyang, Gyeonggi Province, together with the Foundation for Large and Small Enterprises and Agriculture, Fisheries Cooperation.

Through this agreement, LS Industrial Systems contributed 3 billion KRW to the cooperation foundation's win-win cooperation fund. Additionally, by forming a pool of solution providers, offering expert mentoring services, and supplying customized solutions based on LS Industrial Systems' smart factory platform Tech Square, it aims to promote the spread of smart factories among domestic SMEs and strengthen their competitiveness.

Kim Dong-hyun, Executive Director and Chief Financial Officer (CFO) of LS Industrial Systems, stated, “LS Industrial Systems is making every effort to achieve balanced growth between large and small-medium enterprises and to create an innovative industrial ecosystem. We will continue to actively strive for the revival of Korea’s manufacturing industry and the creation of quality jobs through various support projects.”

Kim Soon-chul, Secretary General of the cooperation foundation, said, “Following last year’s contribution of win-win cooperation funds for smart factory establishment by 10 large and public enterprises, it is very meaningful that LS Industrial Systems has taken the first step in the 2020 project. We will make efforts to encourage more companies to participate in the project in the future.”

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