LG Uplus Helps Korean Manufacturers Enter Catena-X

[Financial News] LG Uplus has joined forces with data-space specialist IBCT to help domestic manufacturing companies enter Catena-X, Europe's supply-chain data management system.
LG Uplus and IBCT have agreed to establish a strategic partnership and launch a joint Catena-X business. They plan to offer companies seeking to join Catena-X an end-to-end service, from enrollment consultations and system setup to infrastructure provision and service operations.
Catena-X is a supply-chain data-sharing system involving global manufacturers such as BMW, Mercedes-Benz and Volkswagen. It serves as a platform where large manufacturers and their first- and second-tier suppliers can share key information, including product specifications and bidding information, without directly handing it over to one another.
Companies must meet standardized data requirements and register with Catena-X to access supply-chain data such as production histories, raw-material sourcing information and carbon emissions. This makes it increasingly important for Korean manufacturers that do business with European companies to prepare for the system.
Through their joint business, LG Uplus and IBCT aim to reduce the burden on small and midsize companies of separately building the technology and infrastructure required to participate in Catena-X.
IBCT, a domestic partner of Cofinity-X, the operator of Catena-X's commercial services, will handle company enrollment and system setup. Using its own data-space platform, it will also provide functions needed for product carbon footprints (PCF), digital product passports (DPP), supply-chain traceability and certificate management.
LG Uplus will support implementation consulting and service operations for corporate customers while providing cloud, telecommunications and security infrastructure. It also plans to apply its security solutions to the management of manufacturing data and connections to global supply chains.
Kwon Geun-seop, head of customer groups at LG Uplus, said, "We will help domestic manufacturing companies adopt Catena-X more easily and reliably while securely protecting their critical data." Jung-Ryun Lee, CEO of IBCT, stated, "By combining data-space technology with ICT infrastructure, we will provide services that connect exporting companies to the global manufacturing ecosystem."
[email protected] Yoon Hong-jip Reporter