On November 14, Hyosung ITX announced that it signed a Memorandum of Understanding (MOU) with Yokogawa Electric Korea to collaborate in the field of digital transformation (DX). This partnership aims to create synergy in the smart factory market by combining the technological strengths of both companies.
Founded in 1915 in Tokyo, Yokogawa Electric is a global leader in process automation, providing measurement and control solutions across industries such as energy, chemicals, and materials. In contrast, Hyosung ITX has been enhancing process data analysis capabilities using artificial intelligence (AI) and big data, leveraging its experience in building smart factories within the Hyosung Group and through its proprietary data analysis solution, xtrmVAS (Extreme VAS).
Through this MOU, the two companies plan to expand their cooperation, particularly in advancing data-driven decision-making systems by utilizing manufacturing process data.
Hyosung ITX CEO Hong Hye-jin stated, "This MOU marks a significant starting point for enhancing competitiveness in manufacturing sites by combining IT technology with manufacturing operational technology. We aim to significantly enhance the productivity and efficiency of our clients through the establishment of data-driven smart factories."
Koichi Nakajima, CEO of Yokogawa Electric Korea, expressed that "the collaboration with Hyosung ITX will accelerate digital innovation in Korea's manufacturing industry. We intend to create new value based on over a century of expertise in industrial control and operational technology."
