The National Academy of Engineering Leads 'Industrial Digital Transformation Solidarity and Cooperation'

Minister of Industry Collaborates with the National Academy of Engineering for Industrial Digital Transformation (DX)

At the opening ceremony of the World Engineering Academy Council held on October 13, members of the Korean Academy of Engineering and Prime Minister Chung Sye-kyun attended and took a commemorative photo. (Image source=Yonhap News)

[Asia Economy Reporter Moon Chaeseok] The Korea Academy of Engineering, the nation's most prestigious engineering technology organization, is joining forces with the government to derive successful cases of digital transformation (DX) based on 'solidarity and cooperation.' The solidarity and cooperation model is a strategy introduced by the government to increase commercialization rates through matching demand companies (large enterprises) with supply companies (small and medium-sized enterprises and mid-sized companies).

The Ministry of Trade, Industry and Energy announced that Minister Sung Yun-mo will hold the 'Digital-Based Industrial Innovation Forum' at 7:30 a.m. on the 19th at the Westin Chosun Hotel in Sogong-dong, Seoul, together with the Korea Academy of Engineering.

The forum will introduce the 'Digital-Based Industrial Innovation Growth Strategy' announced on August 20 as part of the Digital New Deal, and discuss directions for industry-academia-research cooperation and challenges faced by the industrial field.

From the government, Minister Sung and Jang Young-jin, Director General of Industrial Technology Convergence Policy at the Ministry of Trade, Industry and Energy, will attend. From the Korea Academy of Engineering, about 30 figures including Chairman Kwon Oh-kyung (Hanyang University Distinguished Professor), Vice Chairman Park Sung-wook of SK Hynix, Dean Cha Guk-heon of Seoul National University College of Engineering, President Jang In-hwa of POSCO, Vice President Lee Jong-su of Hyundai Motor Company, Vice President Jang Hyuk of Samsung SDI, and CEO Dong Hyun-soo of Doosan will participate.

The chairman group of the Korea Academy of Engineering and about 30 industry members attending the forum agreed that 'industrial digital transformation (DX)' is a key means to solve challenges faced by our industry such as eco-friendliness and digitalization triggered by COVID-19 and climate change.

Due to the convergent nature of digital transformation, which involves sharing and utilizing data within and across industries, they unanimously stated that rather than individual companies, various economic actors along the value chain must jointly promote projects to generate higher synergy effects, thereby strengthening 'solidarity and cooperation' across the entire industrial ecosystem.

Furthermore, the Korea Academy of Engineering pledged to take the lead as a hub for solidarity and cooperation for industrial digital transformation, as an organization that has led Korea's industrial innovation and engineering technology development.

□ SK Hynix and Samsung Electronics will present on the current status of data and artificial intelligence (AI) utilization, digital transformation directions, and future visions in the semiconductor, home appliances, and electronics sectors.

Vice Chairman Park said, "As digital transformation accelerates, the ability to process and integrate vast amounts of data becomes increasingly important, so we will proactively secure next-generation semiconductors, the core components of the digital ecosystem."

Chairman Kwon stated during the discussion, "While past digital-related policies have focused on data accumulation, going forward, efforts are needed to establish support systems that enable data to be effectively utilized in industrial sites."

He suggested, "For Korea's industry to become more advanced and the economy to develop further, continuous and close cooperation and communication between the government and private sector are necessary not only in semiconductors and home appliances/electronics but also in future cars, shipbuilding, robotics, and various other fields."

Minister Sung emphasized, "In the rapidly changing industrial environment due to the prolonged COVID-19 pandemic and the U.S. presidential election, we are pursuing three major industrial strategies: industrial structure innovation, revitalization of industrial activity, and solidarity and cooperation. For this, private-sector-led 'industrial digital transformation' is key."

Minister Sung added, "I hope engineering professionals become sherpas (guides) of industrial digital transformation, playing a leading role in challenges such as data sharing, cooperation, and new business creation in our industry. We will continue to provide strategic dialogue opportunities with the Korea Academy of Engineering."

The Ministry of Trade, Industry and Energy plans to introduce the 'Digital-Based Industrial Innovation Growth Strategy' and, through operating the 'Industrial Digital Transformation Solidarity' formed on the 28th of last month, will discover digital transformation tasks based on industry demand and actively build an 'industrial data platform' that solves problems using data and AI.

They will strengthen the cooperation and diffusion system of industrial digital transformation through a collaboration support center (providing common infrastructure technology and standard guidelines), development and distribution of industry-specific DX reference models, and nurturing change agents for corporate transformation.

Above all, they plan to promptly prepare the 'Act on Promotion of Industrial Digital Transformation,' which was introduced by Democratic Party lawmaker Go Min-jung on the 14th of last month. This is to resolve corporate uncertainties regarding industrial data utilization and establish a comprehensive and systematic support foundation.