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Samsung Electronics Co. will invest 30 billion won over the next three years in its Smart Factory 3.0 project which would transform SMEs’ manufacturing facilities into smart factories usingartificial intelligence (AI) and data technology.
The Ministry of SMEs and Startups will match Samsung’s investment.
From 2015 to last year, the Smart Factory project helped establish approximately 3,000 smart factories for SMEs nationwide.
The 3.0 initiative focuses on advancing existing smart factories, those already equipped with data-based automation systems, for participants of previous projects.
The 3.0 project will elevate SMEs’ current smart factories into “intelligent factories,” which are capable of proactively addressing on-site issues by collecting and analyzing real-time production data using AI.
Smart Factory 3.0 will also foster balanced regional development.
Consequently, Samsung plans to give priority support to SMEs located in areas facing the risk of population decline.
Samsung also plans to establish a dedicated organization to assist SMEs that lack the necessary resources in managing environmental, social, and governance (ESG) aspects.
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.
