LG Electronics Joins Forces to Overcome COVID-19 by Enhancing Partner Companies' Productivity

Employees of partner companies receiving robot automation training at LG Electronics Learning Center in Pyeongtaek-si, Gyeonggi-do.

[Asia Economy Reporter Changhwan Lee] LG Electronics announced on the 26th that it will actively support the establishment of smart factories to enhance manufacturing competitiveness and productivity in order to help its partners overcome the novel coronavirus disease (COVID-19).

The company explained that since 2018, it has been supporting domestic and overseas partners in automating production lines and building information systems. This year, the support scope will be expanded to include secondary partners who are struggling due to COVID-19, aiming to equip them with top-level manufacturing competitiveness to increase productivity.

This year, about 100 partner companies will participate together in building smart factory solutions and automation systems using artificial intelligence, big data, and other technologies. In addition, LG Electronics plans to dispatch production technology experts to partners to transfer the know-how accumulated in building smart factories, such as changing product structures or manufacturing methods and reducing the complexity of parts.

Since last year, LG Electronics has established a robot automation training course for partner employees, providing customized practical training including robot operation and management, and learning cases of production line application. Furthermore, various win-win cooperation measures are being prepared to help partners overcome COVID-19.

The interest-free funds, which amounted to 40 billion KRW last year, have been expanded to 55 billion KRW this year. The schedule for providing funds was advanced by four months compared to last year, enabling partners to continue facility investment and parts development without disruption and improve management stability. Together with Industrial Bank of Korea and Korea Development Bank, a 200 billion KRW win-win cooperation fund for low-interest loans is also being operated.

Moreover, LG Electronics has been providing rapid and active support in areas urgently needed by partners, such as delivering 120,000 masks and hand sanitizers to domestic and overseas partners. To strengthen win-win cooperation, various support policies have been implemented, including ▲consulting support for productivity improvement ▲interest-free fund support ▲support for parts development applying new technologies and new manufacturing methods ▲free education support.

Lee Siyong, Executive Vice President and Head of LG Electronics Purchasing Management Center, emphasized, “We will strengthen win-win cooperation by enhancing the manufacturing competitiveness and productivity of our partners while overcoming COVID-19 together. We will continuously support our partners to secure top-level manufacturing capabilities.”

This content was produced with the assistance of AI translation services.