LG Electronics Accelerates Smart Factory Market Entry... "Providing Optimal Solutions"

LG Electronics is taking a full-scale approach to targeting the global smart factory market, where it has recently shown strengths, by establishing a dedicated department. This move aims to strengthen the smart factory business as one of the three major growth engines in the 'Business-to-Business (B2B)' sector.

LG Electronics plans to provide customers not only with automated production solutions but also AI-based production planning, operations, and digital twin solutions. LG Electronics Smart Park in Changwon is building a 'digital twin' technology that replicates actual machines and equipment in a virtual world. Photo by LG Electronics

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On the 10th, LG Electronics announced that it created the 'Smart Factory Business Division' under the Production Technology Institute at the beginning of the year and has commercialized intangible assets such as smart factory construction technology and operation solutions.

Accordingly, LG Electronics supports customers who plan, design, build, and operate smart factories not only with automation production solutions developed independently by the Production Technology Institute but also with AI-based production planning and operation, digital twin solutions, and more. The company continuously provides consulting aimed at strengthening manufacturing competitiveness and upgrading factories.

LG Electronics is recognized for its strengths in the smart factory field, including manufacturing know-how covering various areas, excellent manufacturing methods and equipment, and communication technology. The Changwon Smart Park and the Tennessee plant in the United States have been selected as 'Lighthouse Factories' by the World Economic Forum (WEF) in recognition of their smart factory manufacturing competitiveness.

Building on this, LG Electronics is also strengthening cooperation with various partners to expand the smart factory ecosystem. On the 5th, LG Electronics signed an MOU (Memorandum of Understanding) with LS Electric to establish a 'Smart Factory Business Cooperation System and Mutual Joint Profit Enhancement.' LG Electronics plans to showcase smart factory solutions at 'MODEX 2024,' a logistics exhibition held in Atlanta, USA.

Song Siyong, head of LG Electronics' Smart Factory Business Division, said, "Based on the smart factory solutions owned by LG Electronics, we will provide optimal solutions at every stage of the smart factory process, from factory planning to design, construction, and operation, becoming a partner that accompanies customers on their manufacturing journey."

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