POSCO DX to team up with PwC Consulting for smart factory business

POSCO DX Co., formerly POSCO ICT Co.,  the IT services subsidiary of South Korean steelmaker POSCO Holdings Inc., announced on Monday that it has entered into a strategic partnership with PwC Consulting to jointly promote the spread of smart factories in the industrial field.

Through the latest business collaboration, POSCO DX plans to combine its smart factory building technology and know-how with PwC Consulting's consulting capabilities, providing integrated services ranging from smart factory consulting to construction for small and large manufacturing companies.

POSCO DX possesses smart factory technology and know-how, including the establishment of smart factories in POSCO's production sites and enabling POSCO Pohang Steel Mill to be selected as a "Lighthouse Factory" by the World Economic Forum, the first of its kind in South Korea.

By combining PwC Consulting's global network and consulting expertise, the collaboration is expected to generate synergy by securing a competitive advantage in the field of smart factories through joint marketing and business execution.

POSCO DX is driving the advancement of smart factories by incorporating digital twin technologies such as 3D visualization, simulation and control interfaces in collaboration with POSCO.

The goal is to establish a digital twin production system that supports optimal decision-making in operations, equipment, quality, safety and environmental management by creating virtual factories that replicate the real-world environment.

By testing new technologies and equipment in the virtual environment before implementing them in actual factories, efficiency in terms of cost and time can be realized.

"We plan to apply the digital twin-based smart factory to POSCO's steelworks as a pilot project and expand its application to external production sites where our smart factory has been implemented," an official from POSCO DX said. 

Write to Hyung-Kyu Kim at khk@hankyung.com