LG and LS Electric team up on smart factory projects
The two South Korean companies have confirmed a strategic alliance to accelerate smart factory innovation and develop overseas markets.
As per the MoU, LS Electric will contribute its core technologies — including an internet of things-based system for automated equipment modelling, autonomous logistics robots for internal operations and an AI-driven real-time automatic welding system.
Meanwhile LG Electronics will offer system consulting, automation apparatus and digital transformation solutions that incorporate AI and big data.
The overall aim is of the alliance is to grow the base of energy-efficient competitive smart factories on a global scale. Such facilities are known as 'lighthouse factories' – plants that ave implemented Industry 4.0 technology to drastically improve operational efficiency as defined by the World Economic Forum.
“The MOU enables us to provide comprehensive solutions beyond our inherent capabilities, aiming to establish a 'Total Factory Offering' system across the entire factory domain," added Song Si-yong, vice president at LG Electronics.
