SEOUL, Apr. 21 (Korea Bizwire) — The South Korean government is poised to bring the number of smart factories in the country up to 30,000 by 2015, with plans to train 40,000 skilled workers in preparation for the ever-expanding fourth industrial revolution.

Speaking to small and medium size business owners during a meeting at the headquarters of the Korea Federation of SMEs (KBIZ) yesterday, the Minister of Trade, Industry and Energy Joo Hyeong-hwan revealed plans to revolutionize the manufacturing industry in South Korea in the upcoming years using the latest automation, data exchange and the Internet of Things technologies.

Though the previous plan in place was to have around 10,000 smart factories in operation by 2020, the acceleration of the fourth industrial revolution has forced the government to ramp up its efforts to revamp the manufacturing industry at a faster pace, as personalized production emerges as the way forward in order for South Korean industry to survive amid growing competition in the international market.

In collaboration with business partners from more than ten different fields of industry responsible for sensors, controllers and robots to name a few, the government will help build more than 4,500 smart factories for major corporations.

The government is also pumping 215.4 billion won into research and development projects for smart factories, as part of an initiative to implement ‘smart’ technology in the local manufacturing industry. The funding is expected to be used to build test beds and help improve big data, cyber physical system and sensor technologies.

With the newly-introduced measures, the South Korean government expects the size of the smart factory-based market to grow to 2.5 trillion won.

The Korea Polytechnic University, Kyung Hee University, and Chungbuk National University will also offer undergraduate and postgraduate courses on technology development and smart factory management.

“We’ll continue to support small and mid-size companies to grow into global specialized enterprises,” said Joo.

The minister also called for cooperation from business owners in raising productivity in the manufacturing industry as the world enters the age of the fourth industrial revolution.

Ashley Song (ashley@koreabizwire.com)