CJ OliveNetworks CEO Cha In-hyok, left, holds an agreement with Thomas Schmid, who takes charge of Siemens Korea’s Digital Industries, after the two sides signed to work together for smart factory-related businesses at the Siemens Korea head office in central Seoul on Sept. 2. Photo courtesy of CJ OliveNetworks

Two companies will cooperate for smart factory business

CJ OliveNetworks, South Korea’s top-tier system integrator, will join forces with global tech giant Siemens to sharpen their competitive edge for the promising smart factory business.

CJ OliveNetworks announced on Sept. 3 that leaders of the two companies had signed an agreement on mutual collaboration this week at the head office of Siemens Korea in downtown Seoul.

The event was attended by CJ OliveNetworks CEO Cha In-hyok and Thomas Schmid, who takes charge of Siemens Korea’s Digital Industries.

Under the partnership, they will work together to secure competitiveness in Operation Technology and hardware, which are necessary for the smart factory business.

Unlike conventional software, Operation Technology is a software system optimized for monitoring, control, and prediction at the production sites.

CJ OliveNetworks will work on establishing smart factories and operating its facilities, while Siemens will offering necessary products as well as know-how and training.

“We have focused on the solution-based businesses. On top of it, we strive to add our capacities on Operation Technology and hardware so that we can have a comprehensive service platform for smart factories,” CJ OliveNetworks CEO Cha said.

“By teaming up with Siemens, we will be able to tap into the Fourth Industrial Revolution businesses, including IoT- and AI-based condition monitoring system or factory energy management system.”

Schmid, who represents the Siemens side, also expressed his high hopes for the joint work. He is responsible for overseeing the Digital Industries portfolio and smart factory business in Korea and abroad.

“As a digitalization leader, we are set to contribute to increasing the competitiveness of CJ OliveNetworks by sharing our technological know-how on smart factories,” he said.