SEOUL, Sept. 14 (Korea Bizwire) — The speed of WiFi offered in smart cities and smart factories across South Korea is about to get even faster. The Ministry of Science and ICT announced yesterday that it was reestablishing its criteria regarding new technologies following the Presidential Committee on The Fourth Industrial Revolution’s recent strategy to [...]
SEOUL, Aug. 6 (Korea Bizwire) — Companies that share similar production processes will be able to finance high-quality “smart” factories cost-effectively by coming together in clusters of five or more. The Ministry of SMEs and Startups revealed yesterday that it would be partially funding the establishment of factories that would benefit companies through economies of [...]
SEOUL, Sept. 27 (Korea Bizwire) — LG Electronics Inc. said Wednesday it plans to spend 600 billion won (US$527 million) on renovating its aged kitchen appliances production lines in South Korea. First built in 1976, the factory located in Changwon, about 300 kilometers southeast of Seoul, currently produces small products, while demand for larger appliances [...]
SEJONG, Jan. 4 (Korea Bizwire) – South Korea will invest nearly 14 trillion won (US$11.6 billion) into new energy industries such as solar power this year in a bid to foster the potential sectors as the country’s new growth engines, the ministry here said Wednesday. The Ministry of Trade, Industry and Energy said investment made [...]
SEOUL, Aug. 31 (Korea Bizwire) — Samsung Electronics said Monday it has agreed with the commerce ministry to provide smaller firms with more efficient production facilities in line with government efforts to promote shared growth between big businesses and them. Under the plan, the two will invest 15 billion won (US$12.6 million) each to share various [...]
Seoul, Mar. 2 (Korea Bizwire) — Samsung Group will develop about 400 ‘smart factories’ in Gyeongsangbuk-do in collaboration with the Gyeongbuk Creative Economy Center, by 2017. The partners will jointly develop fully automated assembly factories based on MES (Manufacturing Execution System) and IoT (Internet Of Things) technologies. These factories will be also equipped with tailored [...]