LG Electronics to automate operations for 60 partnersLG Electronics said Monday that it will work to automate operations for 60 of its partnering companies by the end of this year as it strives to stay at the forefront of the fourth industrial revolution.
The electronics company invested around 300 billion won ($246 million) last year to boost automation rate for its partners by 10 percentage points from 2017. As a result, the partnering companies achieved a 550 percent hike in productivity while cutting down errors by up to 90 percent.
The company has been continuing the support this year by signing an agreement with the Ministry of SMEs and Startups to supply 10 billion won to creating smart factories.
By Ko Jun-tae