Cho Jin-young for Business Korea:  The Ministry of Trade, Industry & Energy announced on February 2 that the South Korean government invests 90.5 billion won and the private sector invests 20.3 billion won this year so that smart factories can be built for at least 2,200 small and medium-sized enterprises (SMEs) and the number of such factories in South Korea can be increased to 5,000 before the end of this year.

The ministry is planning to diversify the types of smart factories, too. For example, the new smart factories are slated to include 500 clean energy-based ones for a higher level of energy efficiency and 50 cloud-type smart factories that are capable of connecting regions and various sectors of the manufacturing industry.  Cont'd...