Ministry of SMEs and Startups to Recruit 10 'K-Smart Lighthouse Factories'... 1.2 Billion KRW Support Over 3 Years

Supporting Smart Factory Advancement from Customized Precision Diagnostics to Advanced Solutions

Inside POSCO's smart factory, the only domestic company selected by the World Economic Forum (WEF) as an innovative manufacturing 'Lighthouse Factory.' A worker is virtually depicted inspecting on-site equipment using 'smart glasses.' Photo by POSCO

[Asia Economy Reporter Kim Heeyoon] The Ministry of SMEs and Startups announced on the 6th that it is accepting applications from small and medium-sized enterprises (SMEs) and mid-sized companies wishing to participate in the 'K-Smart Lighthouse Factory' project, which supports the establishment of advanced smart factories.

The K-Smart Lighthouse Factory project is modeled after the 'Lighthouse Factories' selected mainly among large corporations by the World Economic Forum (WEF) as leaders in innovating the future of manufacturing. It refers to 'smart factories' that actively adopt cutting-edge technologies and infrastructure to present the future of manufacturing, symbolizing the role of a lighthouse guiding and illuminating the future of manufacturing like a lighthouse in the night sea.

Applications for the project are targeted at SMEs and mid-sized companies aiming to build advanced smart factories where manufacturing processes are analyzed by artificial intelligence (AI) and real-time control is possible.

The Ministry of SMEs and Startups has instructed the 19 regional Manufacturing Innovation Centers (TP) nationwide to recommend up to three candidate companies each to discover outstanding enterprises.

The K-Smart Lighthouse Factory project selects companies by categorizing them into seven leading industries such as machinery, electronics, chemicals, and roots industries, and three other industries including food and pharmaceuticals, to ensure the effects of the support project spread throughout the manufacturing supply chain.

Selected companies will receive up to 400 million KRW annually, with a maximum of 1.2 billion KRW over three years. The Ministry plans to provide advanced solutions by establishing customized precision diagnostics and strategies tailored to each company's situation through specialized institutions.

Details of the support project can be found on the Ministry of SMEs and Startups website or the Smart Factory Project Management System of the Korea Technology and Information Promotion Agency for SMEs (Smart Manufacturing Innovation Promotion Team). Applications will be accepted online through the Smart Factory Project Management System until the 29th of next month.

Kim Ilho, head of the Smart Manufacturing Innovation Planning Team at the Ministry of SMEs and Startups, said, "This project is a process of qualitatively upgrading the smart factory dissemination system. Starting with 10 companies this year, we plan to support the establishment of 100 K-Smart Lighthouse Factories by 2025 to rapidly spread a leading model of manufacturing innovation."

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