"Overcoming COVID-19 with Smart Factories"…World Economic Forum Strategic Meeting
[Asia Economy Reporter Kim Daeseop] On the 18th, the Ministry of SMEs and Startups announced that South Korea's win-win cooperation cases between large corporations and small and medium enterprises (SMEs) received attention at the Advanced Manufacturing Production Strategy Meeting of the World Economic Forum held online.
At the meeting held on the 14th and 15th, panelists and participants from around the world attending online emphasized the importance of advanced technologies such as data sharing, public-private cooperation, inclusive growth, and 3D printing. They also engaged in heated discussions on short-term responses and mid- to long-term strategies regarding these issues.
Cho Juhyun, head of the SME Smart Manufacturing Innovation Planning Group at the Ministry of SMEs and Startups, who attended as a representative of Korea, introduced a case where large corporations supported SMEs manufacturing masks and diagnostic kits with smart factory technology, resulting in a significant increase in production volume. South Korea's case of overcoming the COVID-19 crisis through smart factory technology support attracted attention.
Head Cho proposed that SMEs cooperating with large corporations be united and designated as lighthouse factories (innovative smart factories) to support sharing technology and experience going forward.
The Ministry of SMEs and Startups plans to study South Korea's case of overcoming the COVID-19 crisis through the spread of smart factory technology via win-win cooperation between large corporations and SMEs, and share the results at the World Economic Forum scheduled for January next year.
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Head Cho said, "Fostering SMEs and startups as the main agents in overcoming the COVID-19 crisis is a key policy of Korea," adding, "We plan to further strengthen support for smart factories in preparation for the transition to a digital economy and the post-COVID era."
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