Korea’s manufacturing conglomerates are transforming their businesses by incorporating artificial intelligence, big data and robotics into their operations.
Since 2018, POSCO has used its smart factory platform, PosFrame, to collect and analysis real-time data during steel production to create optimal production conditions.
Another example is Hyundai Motor Group’s “2025 Strategy” to reorganise the company’s structure along two main pillars – smart mobility products and services. The group is aiming to mass produce autonomous vehicles by 2024 and develop personal air vehicles, which are expected to account for 30% of future sales.
Korea’s 5G network has been crucial to supporting the manufacturing conglomerates’ usage of smart technologies. The 5G network sends data 20 times faster than the maximum speed of the 4G network and can support up to 1 million devices per square kilometre.
Korean companies are already preparing for 6G to be widespread and used by 500 billion devices by 2030 – providing significant opportunities for businesses to further adopt smart technologies.
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