LS Electric Partners with LGU+ to Expand Smart Factory Business

Customized Business Initiatives for Mid-sized and Small Enterprises

[Asia Economy Reporter Kim Pyeonghwa] LS Electric has partnered with LG Uplus to expand its smart factory construction business targeting domestic mid-sized and small-to-medium enterprises.

On the 3rd, LS Electric announced that it signed a business agreement with LG Uplus at the LS Yongsan Tower in Seoul to 'expand the smart manufacturing innovation business for mid-sized and small-to-medium enterprises.' The signing ceremony was attended by Kwon Bonghyun, Chief Operating Officer (COO) of LS Electric Automation CIC (Company-In-Company), and Im Janghyeok, Head of LG Uplus Corporate New Business Group, along with other officials.

From the third person on the left, Kwon Bong-hyun, COO of LS Electric Automation CIC, and Lim Jang-hyuk, head of LG Uplus Corporate New Business Group, are taking a commemorative photo with officials at the signing ceremony. /
[Photo by LS Electric]

The two companies will target the customized market for domestic mid-sized and small-to-medium manufacturing companies going forward. The business will be conducted by applying LG Uplus's next-generation communication technology based on LS Electric's smart factory platform, Tech Square. Tech Square is a customized platform that provides optimized services such as expert mentoring to manufacturing companies, enabling them to build smart factories.

LS Electric plans to provide mentoring, company matching services, and establish customized roadmaps for companies based on its know-how in building the Cheongju smart factory, which was selected as a lighthouse factory by the World Economic Forum (WEF), and its Tech Square operation capabilities. LG Uplus will support manufacturing data collection, fault diagnosis monitoring, and security solutions at optimal costs based on its communication network.

COO Kwon said, “We expect synergy as LG Uplus's communication-based smart factory operation technology is added to LS Electric's know-how in building and operating smart factories,” and added, “We will continue to strengthen cooperation with various partners to grow into a total smart factory service company.”