Ministry of SMEs and Startups Selects 4 Additional 'Korean-Style Lighthouse Factories'

[Asia Economy Reporter Donghyun Choi] The Ministry of SMEs and Startups announced on the 12th that it has additionally selected four companies, including Woosung Jeonggong and Cosmecca Korea, as recipients of the ‘K-Smart Lighthouse Factory’ support program, which aids in building top-tier smart factories applying artificial intelligence (AI), big data, and digital twin technologies.

The K-Smart Lighthouse Factory project benchmarks the ‘Global Lighthouse Factory’ program selected by the World Economic Forum (WEF), which recognizes companies worldwide leading innovation in manufacturing. It supports the establishment of leading smart factories primarily among domestic small and medium-sized enterprises (SMEs) and mid-sized companies.

The selected SMEs and mid-sized companies will serve as model factories that indicate the advanced direction of domestic manufacturing and present a future vision for their respective industries.

Company selection was based on recommendations from regional technoparks and considered factors such as ▲advancement ▲sustainability ▲industrial and economic ripple effects when supporting customized diagnostics and design for smart factory construction.

The newly selected lighthouse factories include two SMEs and two mid-sized companies, operating in sectors such as automotive, machinery equipment, and chemical products.

Woosung Jeonggong, an SME with top technology in the dual injection mold field, will build an intelligent injection mold smart factory by collecting and accumulating big data.

Cosmecca Korea, the third-largest cosmetics manufacturing mid-sized company in Korea, will establish a multi-product customized production smart factory incorporating global standard digital core technologies to expand its global market and enhance manufacturing capabilities.

Praco, a mid-sized automotive parts manufacturer, will build an AI-based smart factory utilizing big data and predictive maintenance to secure international competitiveness.

Hyundai Precision, an SME manufacturing construction equipment parts, will introduce an automated and intelligent manufacturing system to establish a multi-product small-lot parts production system.

The Ministry of SMEs and Startups will provide up to 1.2 billion KRW over three years to support the selected companies in systematically building advanced solutions through open innovation with smart factory support suppliers, universities, and research institutes.

A ministry official stated, "Once the lighthouse factories are completed, they will be open for benchmarking and learning by students and company personnel for two years, ensuring that exemplary cases are widely shared and disseminated."

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