WEF designates LS Electric plant as Lighthouse Factory
LS Electric's Cheongju plant was recognized by the World Economic Forum (WEF) as a Lighthouse Factory, spearheading the manufacturing industry by applying innovative technologies.
Companies that lead the future of the manufacturing industry through developments in core technologies of the fourth industrial revolution — internet of things (IoT), artificial intelligence (AI) and big data — are recognized as a Lighthouse Factory by the WEF.
A total of 21 factories across the world were designated as Lighthouse Factories on Wednesday, including the Johnson & Johnson Vision Care factory in London and De’Longhi’s plant in Treviso, Italy.
Electric equipment provider LS Electric is the second Korean company to be selected since Posco was given the title in 2019.
According to the WEF, LS Electric was recognized for the use of IoT-based automation and machine-learning powered inspection at its smart factory in Cheongu, North Chungcheong. The technology allows the company to be more flexible toward a sudden increase in demand and cut production costs.
LS Electric’s movement into environmental, social and corporate governance (ESG) was another factor that helped. An energy management solution independently developed by the company, known to increase the energy efficiency at factories, was also acknowledged by the organization.
BY LEE TAE-HEE [firstname.lastname@example.org]