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. Source: Korea Times
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