Data sharing is the key to turning South Korea into an industrial powerhouse with sustainable growth, according to Lee Sang-hoon, chairman of the Korea Industrial Complex Corporation (KICOX), a state-led institution specializing in industrial complex innovations.

“Starting next year, KICOX will join hands with the government to facilitate digitalization innovation for 15 major industrial parks across the country,” Lee said, in a recent interview with Maeil Business Newspaper.

KICOX will support member companies in securing data standardization and interoperability while spending much of its budget on a successful digital shift among industrial complexes, he said.

When asked about how he would respond to potential issues of data security that can arise from data sharing among companies, Lee noted how important it is for the National Assembly, the government, municipalities, and tech organizations to cooperate with each other to come up with solutions.

Lee emphasizes the role that the private sector can play in the digitalization efforts of industrial complexes.

He urged member firms within industrial parks, research institutes, data standardization experts, and testing and certification agencies to embrace and actively engage in digital innovation.

“We may create a new digital hub of various industries if mobile carriers, information and communications equipment manufacturers, and software companies responsible for establishing high-speed Internet networks participate in connecting vast industrial areas,” Lee said.

He expected the shift to happen in 2032 as a vast amount of data spanning manufacturing, logistics, and safety will be shared among industrial parks.

“A real-time monitoring system in industrial areas will also enable companies to share their data to improve productivity,” he said.

By Kim Si-gyun and Han Yubin

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]