KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
No Result
View All Result
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Samsung

Samsung Electronics to invest $22.7 million to improve smart factories of small and medium-sized enterprises

 18 total views,  1 views today

Dae-Hyun by Dae-Hyun
PUBLISHED: May 26, 2023 UPDATED: May 27, 2023
in Samsung
0
Samsung Electronics to invest $22.7 million to improve smart factories of small and medium-sized enterprises

Samsung Electronics unveiled its Smart Factory 3.0 project on Wednesday, committing approximately $22.7 million (30 billion won) over the next three years. As part of the project, Samsung will allocate 10 billion won annually to develop and enhance smart factories in 600 small and medium-sized enterprises (SMEs).

The initial smart factory initiative was introduced by Samsung Electronics in North Gyeongsang Province in 2015. Since then, Samsung has facilitated the construction of smart factories in over 3,000 SMEs across South Korea.

The Smart Factory 3.0 project will leverage artificial intelligence (AI) and data technology. It will also create an ecosystem that supports the growth of local SMEs. By utilizing AI and data-based automation technologies, the project aims to advance existing smart factories. 

The project also aims to transform SME-owned factories into intelligent units, capable of proactively handling problems by gathering and analyzing real-time production data, utilizing AI.

The primary objective of the 3.0 project is to enhance the capabilities of existing smart factories for the project participants. This is particularly focuses on participants who have installed data-based automation technologies.

Population decline in certain parts of South Korea has emerged as a significant issue, a problem that Samsung Electronics is prioritizing. It’s offering support to SMEs located in such risk regions. The company also aims to foster balanced regional development throughout the country. Samsung plans to create a special organization for helping SMEs. Specifically, these are the SMEs that lack adequate resources to manage environmental, social, and governance concerns.

Ministry of SMEs and Startup to supplement Samsung Electronics’ investment

To encourage the development of smart factories, South Korea’s Ministry of SMEs and Startups will provide subsidies to SMEs equivalent to Samsung’s investment. The government of the North Jeolla province will also heavily subsidize the cost of participating in the Smart Factory 3.0 project for businesses in 2023. In 2024, a separate independent smart factory will be introduced in North Jeolla, apart from Samsung Electronics.

Korea Federation of Small and Medium Business (KBIZ) is one of the prominent support organizations for small businesses in South Korea. The organization will oversee the Smart Factory 3.0 project. This organization will supervise the selection process for beneficiaries, carry out post-evaluations, and also ensure the project’s success.

Samsung Electronics has been actively sharing technology with SMEs since 2015. It has already provided 959 patents to 502 small businesses across the country. In April, Samsung Electronics partnered with the Korean government to once again transfer patent technologies.

What’s your thoughts?
+1
0
+1
1
+1
0
+1
0
+1
0
+1
0
+1
0
Tags: InvestmentMinistry of SMEs and StartupsSamsungsamsung electronicsSmart FactorySMEs

Related Posts

Samsung and LG to Collaborate to Produce OLED displays
LG

Samsung and LG to Collaborate to Produce OLED displays

May 18, 2023
Samsung Develops In-House AI Platform for Employees, Avoiding Leaks and Enhancing Data Privacy
AI

Samsung Develops In-House AI Platform for Employees, Avoiding Leaks and Enhancing Data Privacy

May 16, 2023
Samsung Galaxy Watch to debut Irregular Heart Rhythm Notification feature in upcoming One UI 5 Watch update
Health

Samsung Galaxy Watch to debut Irregular Heart Rhythm Notification feature in upcoming One UI 5 Watch update

May 9, 2023
Samsung
Samsung

Samsung to build memory chip based supercomputers, expects surpassing Taiwan Semiconductor Manufacturing Company

May 6, 2023
Samsung Electronics temporarily bans ChatGPT and other generative AI tools for employees
Samsung

Samsung Electronics temporarily bans ChatGPT and other generative AI tools for employees

May 3, 2023
Samsung Heavy Industries and Hyundai Merchant Marine to jointly study & develop carbon capture and storage technology
Hyundai

Samsung Heavy Industries and Hyundai Merchant Marine to jointly study & develop carbon capture and storage technology

May 2, 2023
No Result
View All Result

Follow Us

FREE NEWSLETTER




PRODUCTS

Most Popular

  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Top South Korean Tech Products to Look Out for in 2021

    0 shares
    Share 0 Tweet 0
  • Netmarble subsidiary Metaverse Entertainment’s K-Pop virtual girl band MAVE has a smashing online debut

    0 shares
    Share 0 Tweet 0
  • 5 All-Time Best Rom-Com K-Dramas to Watch

    0 shares
    Share 0 Tweet 0
  • Samsung to build memory chip based supercomputers, expects surpassing Taiwan Semiconductor Manufacturing Company

    0 shares
    Share 0 Tweet 0
  • Naver and Kakao Quicken Entry into Business AI Market

    0 shares
    Share 0 Tweet 0
  • Kakao Mobility and Kia collaborate to develop purpose-built vehicle for ride-hailing services

    0 shares
    Share 0 Tweet 0
  • Naver Webtoon’s Toon Filter Records 20mn Global Image Conversions

    0 shares
    Share 0 Tweet 0
  • Top Nine Mobile MMORPG in South Korea for 2020

    0 shares
    Share 0 Tweet 0
  • World’s First 5G Robot Café has a Seoul Opening

    0 shares
    Share 0 Tweet 0
  • About Us
  • Account Page
  • application form
  • Cookie policy
  • Default Redirect Page
  • homepage
  • Login
  • login form
  • LogOut
  • Newsletter
  • Privacy Policy
  • Register
  • Reset Password
  • Sample Page
  • Subscription Plan
  • Terms of Use
  • test
  • test
  • testpage
  • TOS Page
  • Visitor Inside User Page

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |