ULSAN < invest Korea

According to Newsis News,

(ULSAN=Newsis News) The Ulsan Creative Economy Innovation Center holds a presentation meeting to announce the result of its project to expand ICT convergence smart factories on October 25, 2016.

The event will mark the completion of the center's project, which started last January.

The center has so far supported establishment of smart factories of 17 small and medium-size companies.

Smart factories are advanced facilities where factory management technique and manufacturing automation system based on information and communication technology are applied.

Creative Economy Innovation Centers nationwide, the Korea Smart Factory Foundation, and Samsung Electronics support up to 50% of investment or KRW 50 million for small and mid-sized companies setting up such facilities.

Ulsan center plans to additionally establish nine more smart factories by the end of December after receiving additional budget of KRW 730 million.

jhc@newsis.com

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