ULSAN < invest Korea

According to Yonhap News,

The city of Ulsan and Ulsan Technopark announced on Jan. 16 that the local authority setup a construction plan to add 90 more smart factories within the community. They’ve already built up 77 smart facilities last year, a part of national development initiatives to widespread smart factories.

Both parties involved will have 90 additional factories, regarded as a key source for innovation and a driving force in the era of the 4th industrial revolution. Smart factory project is part of major initiatives driven by ministry of SMEs and startups (MSS), who aimed to establish 30,000 facilities across the nation by the year 2022. Smart factories are literally ‘smart’ production line where the entire process of business cycle – planning, designing, production, distribution and sale- is available at one place. This one-stop solution provides a personalized service at the lowest cost and the shortest lead time. The head of the park said “Ulsan city is a perfect place where enterprises small or large live and work together.”, adding that “Since the community’s production capacity is the best in Korea, what we need to focus more is innovation for added value and fostering small but strong businesses in the global business arena.”

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Source: Yonhap News (Jan. 16, 2020)