Samsung to share production solutions with 16 local textile firms

The Korean government has been opening up so-called creative economy centers throughout the country sponsored by conglomerates, aimed at bolstering the development of ventures through merging various industries with information and communications technology for which Samsung Electronics will share its know-how with local textile producers, helping them to adopt more efficient production solutions and seek shared growth.

Samsung will provide the solutions to 16 textile firms based in Gyeonggi Province under an agreement with the Center for Creative Economy & Innovation based in the region.

The companies will receive support in establishing enterprise-resource planning (ERP) solutions, which aim to connect various areas of business, from manufacturing and procurement to accounting, for more efficient management procedures.

The Ministry of Science, ICT, and Future Planning, which promotes the creative economy policies, said it plans to apply smarter production solutions to 1,000 small-and-medium firms throughout the country.

Gyeonggi Province is the home to some 1,500 small-and-medium sized textile companies but the companies are reluctant to adopt ERP solutions due to financial issues.