LGU+ and LS Electric Expand Smart Manufacturing Innovation for Small and Medium Enterprises

[Asia Economy Reporter Oh Su-yeon] LG Uplus announced on the 3rd that it has joined hands with LS Electric, a leading domestic smart factory and automation solutions company, to expand smart manufacturing innovation projects for small and medium-sized enterprises (SMEs) and mid-sized companies.

The two companies signed a business agreement for smart factory business cooperation on the 2nd at LS Yongsan Tower. The event was held with key executives in attendance, including Lim Jang-hyuk, Head of Corporate New Business Group (Executive Director) at LG Uplus, and Kwon Bong-hyun, COO of Automation CIC at LS Electric.

By combining LS Electric’s smart factory platform 'Tech Square' with LG Uplus’s solutions, they will build high-quality smart factories that SMEs and mid-sized companies genuinely need.

Many domestic SMEs and mid-sized companies recognize the necessity of digital transformation but face difficulties in finding the most suitable solutions and suppliers for their factories and designing smart factories. The two companies aim to strengthen their influence in the market by supporting the establishment of smart factory roadmaps tailored to the characteristics and needs of each factory and providing reasonably priced solutions.

LS Electric’s Tech Square is Korea’s first open smart factory platform where demanders, suppliers, and industry-academic experts can freely participate. Tech Square offers mentoring for establishing smart factory roadmaps according to each manufacturing sector and provides services that recommend and match suppliers capable of offering optimal solutions. Additionally, it offers customized project management and maintenance services, currently securing over 1,100 manufacturing companies as customers.

LG Uplus plans to support the expansion of LS Electric’s Tech Square business by leveraging solutions needed by SMEs and mid-sized companies in areas such as equipment, quality, data, safety, and environmental management. LG Uplus possesses various communication-based solutions required by small and medium manufacturing companies, including ▲data collection and monitoring ▲fault diagnosis and predictive maintenance ▲video analysis ▲network and security solutions, enhancing factory productivity by enabling solution use without the burden of installation costs or the need for related experts.

Lim Jang-hyuk, Head of Corporate New Business Group at LG Uplus, said, "Cooperation with LS Electric will be an opportunity to introduce our excellent solutions to more SMEs and mid-sized companies," adding, "By combining the platforms, solutions, and network capabilities of both companies, we will contribute to smart manufacturing innovation in domestic factories."

Kwon Bong-hyun, COO of Automation CIC at LS Electric, stated, "We expect great synergy as LG Uplus’s communication-based smart factory operation technology is added to LS Electric’s world-class smart factory construction and operation know-how," and added, "We will continue to do our best in innovation to advance as a total smart factory service company."