Samsung to help Korean textile firms

09 Apr '16

2 min read

In a shot in the arm for South Korean textile producers, Samsung Electronics has said it will share its know-how with local textile producers, helping them to adopt more efficient production solutions and seek shared growth.

Samsung said it will provide the solutions to 16 textile firms based in Gyeonggi Province under an agreement with the Centre for Creative Economy & Innovation based in the region, Yonhap news agency has reported.

The Korean government has been opening up what it calls creative economy centres throughout the country sponsored by conglomerates, aimed at bolstering the development of ventures through merging various industries with information and communications technology.

Samsung said 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.

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

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. (SH)

Fibre2Fashion News Desk – India

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