Sharing SME Manufacturing Innovation Know-how... 'Benchmarking Excellent Companies'

Project Promoted to Foster Virtuous Cycle Growth

The Korea Federation of SMEs announced on the 29th that it held a 'Manufacturing Innovation Excellent Companies Benchmarking' event in Geumcheon-gu, Seoul.

Kim Ki-moon, President of the Korea Federation of Small and Medium Business
Photo by Yonhap News

The Manufacturing Innovation Excellent Companies Benchmarking project was launched to promote a ‘virtuous cycle of growth’ where small and medium-sized enterprises (SMEs) can be mutually stimulated and grow together by spreading best practices of management environment improvement and technology/process innovation companies.

This year, the event was held at ‘AutoSwing,’ an industrial safety products manufacturing specialist company located in Geumcheon-gu, where manufacturing innovation know-how was shared. AutoSwing once considered relocating its factory overseas due to declining productivity, but in 2017, it participated in the ‘Large and Small Business Win-Win Smart Factory Support Project’ promoted by the Ministry of SMEs and Startups, the Korea Federation of SMEs, and Samsung. Since then, AutoSwing, along with seven major partner companies, has reduced the defect rate to below 1% and improved productivity by 32% through smart factory family innovation. The company also succeeded in developing the third-generation welding helmet and has grown into a company aiming to become the global number one in the welding helmet sector.

Huh Moon-young, CEO of AutoSwing, said, “When participating in the smart factory support project, Samsung mentors asked so many questions it was almost annoying, but through that, we learned the innovation know-how of a large corporation. I hope that through this opportunity, SMEs can also receive our experience and know-how, creating an innovation synergy where everyone can win together.”

At the benchmarking event, about 20 people attended, including Kim Soo-young, a professor at Hoseo University and a member of the SME Smart Industry Research Association; Han Yong-hee, a professor at Soongsil University; Kim Ki-beom, a professor at Ulsan College of Science; as well as representatives from SME cooperatives and member companies.

Jeon Ui-jun, Director of the Smart Industry Office at the Korea Federation of SMEs, said, “The benchmarking of manufacturing innovation best practices is encouraging in that senior companies directly pass on innovation know-how to junior companies, spreading a private-sector-led smart manufacturing ecosystem. In particular, if SME cooperatives organized by the same industry act as a focal point, it can be operated more effectively.”

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