Samsung’s W50b investment into smart factory

In 2015, Samsung Electronics set up a task force to support suppliers and smaller companies in the eco-system with smart factory solutions. A year later, the tech giant helped 450 companies build smart factories.

Since then, over a thousand SMEs have benefited in terms of sharing both technology and expertise.

The support wasn’t just about replacing equipment. It was about urging the employees to voluntarily jump into innovative activities. This was made possible through mentoring programs, along with the monetary support.

The real change occurred in 2018. In a joint effort with the government, Samsung decided to supply smart factory solutions for up to 2,500 companies by investing 10 billion won a year for the ensuing five years. Up to 3,500 companies are expected to benefit from 2015 to 2023.

To further support such efforts, Samsung Electronics created the Smart Factory Support Center reporting directly to the CEO.

Beginning this year, Samsung will help out companies that lend their support to their suppliers to help them cut costs and raise product quality and effectiveness.

Samsung Electronics executives will share more on how they are working to spread smart factories across the nation at the Manufacturing Tech Conference to be held on Oct. 8 at L Center in Seoul. IT media outlets Byline Network and The Elec are co-hosts of the event.

The Elec is South Korea's No.1 tech news platform.