LS Electric forges smart factory partnership with LG Electronics
LS Electric seeks to pioneer the global smart factory market in collaboration with LG Electronics, with both companies being globally recognized as “lighthouse factories” that have demonstrated leadership in the manufacturing industry by actively introducing digital technologies, the power equipment company said Wednesday.
LS Electric said it signed a memorandum of understanding with LG Electronics on Tuesday to form an alliance to share their technology, market and partners in the smart factory business. They agreed to jointly deploy smart factory construction solutions and digital solutions for manufacturing and energy efficiency businesses.
The term lighthouse factory refers to a factory that has become a model in the manufacturing industry using key digital technologies such as the Internet of Things, or IoT, artificial intelligence (AI) and cloud computing, evoking comparison to a lighthouse that guides the way for ships.
LS Electric and LG Electronics were both selected as lighthouse factories at the World Economic Forum in 2021 and 2022, respectively.
Through the partnership, the two will forge extensive collaboration in smart factory business, such as joint promotion of domestic and overseas smart factory markets, technological cooperation and information exchange and active proposals on solutions and capabilities held by both companies for domestic and overseas customers.
LS Electric’s Cheongju plant in North Chungcheong Province, which was selected as a lighthouse factory, is equipped with many core technological systems for smart factories, including mass production of various products automatically; logistics robots capable of autonomous driving; AI-based real-time automatic welding and machine learning-based noise and vibration inspection.