GWANGJU < invest Korea

According to Yonhap news,

Gwangju-si is to support the establishment of 50 smart factories this year.

On April 12, Gwangju-si announced that it will go ahead with a project to support smart factories, including 30 for advancement and 20 for basic, in order to raise the competitiveness of local SMEs' manufacturing site by investing KRW 20 billion.

Smart factories improve the productivity and quality by applying IoT, AI, and big data technologies to all or part of planning, design, production, distribution, and sales process.

For the advancement stage, the city will support up to KRW 50 million, within 20% of the total project cost through a separate agreement with the companies selected for the project of the Ministry of SMEs and Startups support project.

For the basic stage, it will cooperate with Samsung Electronics to support large-medium-small sized companies' win-win (Samsung type) smart factories, with Samsung providing 30% and Gwangju providing 50%, within the total project expense of KRW 100 million per company.

Three manufacturing experts from Samsung Electronics will stay at the selected companies for 8 to 10 weeks and pass on manufacturing innovation know-how.

Samsung Electronics has decided to build 20, out of total 80 nationwide, Samsung-type basic stage smart factories in Gwangju this year.


sangwon700@yna.co.kr

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Source: Yonhap News (April 12, 2024)