LS-seeks-digital-transformation
Shown above is the “lighthouse factory” of LS Electric in South Korea. The factory earns the name as the state-of-the-art plant is believed to show future ways for other factories. Photo courtesy of LS Group

Korean conglomerate works on AI, big data, and smart energy

LS Group recently announced that the Seoul-based conglomerate would work on digital transformation based on such futuristic technologies as AI, big data, and smart energy.

As a part of such efforts, LS Group has amassed various data from customers of its products to come up with solutions offering diversified values and new experiences.

In fact, the group picked digital transformation as its future strategy in 2015 when the fourth industrial revolution started forcing brick-and-mortar companies to change into digital leaders.

Such an initiative is in line with the recent remarks of LS Group Chairman Koo Ja-eun, who stressed carbon-free electricity (CFE) in a recent meeting with group executives.

The CFE initiative refers to a situation where carbon-free electricity sources meet energy demand.

“The unprecedented climate change and the world’s progress toward carbon neutrality will accelerate the advent of electrification and the CEF era. This is a once-in-a-lifetime opportunity for LS,” Koo said.

“We will set up an agile management system under which the existing businesses are optimally streamlined, and attempts to venture into new businesses ware encouraged.”

LS Group said that its subsidiaries started embracing next-generation technologies. Included in the group’s fields are electric power, automation, machinery, materials, and energy.

LS Electric’s smart factory became South Korea’s second “lighthouse factory,” which means a leader in showing the future technology, during the World Economic Forum last year.

LS Cable & System has recently introduced a remote-control system, dubbed i-check, on the back of internet-of-things sensors that prevent power outages and fires.

LS Nikko Copper, LS Mtron, and E1 have briskly braced for cutting-edge technologies, according to LS Group.

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Kevin Chung studied literature in Seoul. He is interested in various areas. He can be reached at jumphigher55@aol.com or 82-2-6956-6698.