LS Electric has been selected as the Lighthouse Factory by the World Economic Forum, becoming the second Korean company after POSTCO in 2019.
According to LS, its Cheongju smart factory was chosen as the Lighthouse Factory at the 2021 WEF on Wednesday. "Lighthouse factories" refer to production plants that have adopted four industrial revolution technologies, including artificial intelligence (AI) and the Internet of Things (IoT), in their daily operations. Since 2018, the WEF, or the Davos Forum, selects Lighthouse factories twice every year after a thorough review of more than six months. Ninety companies around the world have been chosen as Lighthouse companies, two of which are Korean companies: LS Electric and POSTCO.
LS Electric’s smart factory in Cheongju runs a fully automated system from parts supply, assembly, test packaging, etc. The company, which manufactures power transmission and distribution devices, automation and energy saving equipment, has invested more than 20 billion won in building smart factories since 2011. Main technology include model change systems for automatic facilities, in-house logistical robots that run on autonomous driving, AI-based real time automatic wielding systems. Its energy management solutions (EMS) were also self-developed and applied on factories.