In this photo provided by Samsung Electronics Co. on Nov. 8, 2022, Executive Chairman Lee Jae-yong inspects a parts manufacturer in the southeastern port city of Busan that has received support to operate Samsung’s smart factory system.
SEOUL, May 25 (Korea Bizwire) – Samsung Electronics Co. intends to invest 30 billion won (US$22.7 million) over the next three years to support the establishment and upgrading of smart factories for small- and medium-sized enterprises (SMEs).
The company announced on Wednesday that it will launch the Smart Factory 3.0 project, aimed at transforming SMEs’ manufacturing facilities into smart factories through the use of artificial intelligence (AI) and data technology.
Since its inception in 2015, the Smart Factory project has facilitated the establishment of approximately 3,000 smart factories for SMEs nationwide as of last year’s end.
The 3.0 initiative primarily focuses on advancing existing smart factories for participants of previous projects, specifically those already equipped with data-based automation systems.
The objective of the 3.0 project is to elevate SMEs’ current smart factories into “intelligent factories” capable of proactively addressing on-site issues by collecting and analyzing real-time production data using AI.
Another crucial aim of the Smart Factory 3.0 initiative is to foster balanced regional development. Consequently, Samsung plans to give priority support to SMEs located in areas facing the risk of population decline.
Additionally, the tech giant intends to establish a dedicated organization to assist SMEs that lack the necessary resources in managing environmental, social, and governance (ESG) aspects.
To support SMEs, the Ministry of SMEs and Startups will match Samsung’s investment.
The Korea Federation of Small and Medium Business will oversee the invitation of SMEs to participate in the smart factory project, manage the review and selection process for beneficiaries, and conduct post-evaluations.
Kevin Lee (kevinlee@koreabizwire.com)
