LS Electric Expands Customized Smart Factory Support for Small and Medium Enterprises

Kwon Bong-hyun, COO of LS Electric Automation CIC (left in the photo), and Kim Soon-chul, Secretary General of the Cooperation Foundation (right), are posing for a commemorative photo after signing the "Mutual Cooperation Fund Contribution Agreement for the Establishment of Win-Win Smart Factories for Large and Small-Medium Enterprises." (Photo by LS Electric)

[Asia Economy Reporter Jeong Hyunjin] LS Electric announced on the 27th that it has started support for building customized smart factories for small and medium-sized enterprises (SMEs).

On the 26th, LS Electric signed a "Mutual Cooperation Fund Contribution Agreement for Building Win-Win Smart Factories for Large and Small-Medium Enterprises" with the Foundation for Large and Small Business and Agriculture-Fishery Cooperation at LS Yongsan Tower on Hangang-daero, Seoul. Through this agreement, LS Electric will contribute 3.3 billion KRW to the cooperation foundation and help expand the distribution and strengthen the competitiveness of smart factories for domestic SMEs by establishing a pool of solution providers, offering expert mentoring services, and providing customized services for manufacturing companies based on Tech Square, LS Electric’s smart factory platform.

Kwon Bonghyun, Chief Operating Officer (COO) of LS Electric’s Automation CIC (Company-In-Company), said, "We will actively contribute to strengthening the competitiveness and technological advancement of South Korea’s small and medium-sized manufacturing companies by sharing the smart factory-related technologies and capabilities we possess and by opening the platform that can operate them." Kim Sooncheol, Secretary General of the cooperation foundation, said, "We will strive to support various cooperative activities so that LS Electric’s smart factory construction support project can be carried out more effectively this year."

Meanwhile, last year LS Electric also contributed a fund of 3 billion KRW to the Foundation for Large and Small Business and Agriculture-Fishery Cooperation and provided tailored support such as roadmap establishment and supplier matching through close mentoring for smart factory construction to 74 domestic SMEs, including 14 partner companies and 60 general companies.

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