Da-Jung-So Cooperation Foundation and LS Electric Sign Agreement to Contribute to Smart Factory Win-Win Cooperation Fund

33 Billion KRW Contribution and Support to Expand Smart Factory Adoption in SMEs

From the left, LS Electric COO Kwon Bong-hyun, Korea Foundation for Advanced Studies Kim Soon-chul Secretary General. Photo by Korea Foundation for Advanced Studies

[Asia Economy Reporter Kim Heeyoon] The Foundation for Large and Small Enterprises and Agriculture-Fisheries Cooperation (hereinafter referred to as the Cooperation Foundation) announced on the 27th that it has signed a cooperation fund contribution agreement with LS Electric to support the establishment of win-win smart factories for large and small businesses.

According to the Cooperation Foundation, through this agreement, LS Electric will contribute 3.3 billion KRW to the win-win cooperation fund. Furthermore, it plans to actively support the dissemination and competitiveness enhancement of smart factories among domestic small and medium-sized enterprises (SMEs).

In particular, LS Electric will form a pool of specialized supplier companies possessing various solutions and provide expert mentoring services. Additionally, based on LS Electric’s smart factory platform, Tech Square, it plans to supply customized services tailored to each adopting company.

Previously, in 2020, LS Electric contributed funds worth 3 billion KRW to provide customized support such as close mentoring for 74 SMEs for smart factory establishment, establishment of optimized roadmaps for companies, and matching with optimal supplier companies.

Kim Sooncheol, Secretary General of the Cooperation Foundation, said, “Despite the COVID-19 pandemic last year, LS Electric became a representative exemplary case supporting the activation of smart factories for small manufacturing companies through the contribution of the win-win fund. We will support technology escrow services and provide smart technology protection guides to ensure this smart factory establishment support project is carried out more effectively.”

Kwon Bonghyun, COO of Automation CIC at LS Electric, stated, “Through the smart factory-related technologies and capabilities we possess and the platform that can operate them, we will actively contribute to strengthening the competitiveness and technological advancement of small and medium-sized manufacturing companies in Korea.”

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