The World Economic Forum (WEF) has named LG Smart Park, a production base of LG Electronics in Changwon, South Korea, a Lighthouse Factory. WEF Lighthouse facilities implement Fourth Industrial Revolution technologies — such as the Internet of Things, big data, artificial intelligence and robots — into manufacturing and supply chain operations. These technologies a deliver a wide range of benefits from increased production efficiency to enhanced environmental sustainability.
“As the world grapples with many challenges, it is remarkable to see how Lighthouses are yielding sustainability benefits while achieving business goals, which we call eco-efficiency,” said Francisco Betti, Head of Shaping the Future of Advanced Manufacturing and Value Chains, WEF. “We need them to continue illuminating the way forward for the global manufacturing community by shaping a responsible future of manufacturing that works for people, society and the environment.”
LG Smart Park in Changwon, South Korea.
Over the past five years, Englewood Cliffs, NJ-based LG has transformed the Changwon factory complex into LG Smart Park, a futuristic hub of home appliance manufacturing. The key elements of the transformation are a digitally enabled end-to-end three-dimensional logistics system. This advanced analytics system is based on edge computing technology and machine learning that predicts defects and state-of-the-art facilities that can mass-produce multiple models to respond flexibly to customer requirements.
The newly implemented “digital twin” technology enables the operating system to analyze production processes in virtual reality. It can predict if any issues will occur within the next 10 minutes and provide exact parts and materials for the assembling of each appliance with an accurate, up-to-the-minute status of the facility’s logistics operations.