LG Uplus Corp. to Support Korean Auto Parts Makers' Entry into Overseas Supply Chains

[Financial News] LG Uplus Corp. is supporting domestic automotive parts manufacturers in joining global data supply chains.
It is doing so by establishing an environment where manufacturing data, including auto parts production histories and carbon emissions, can be exchanged in line with international standards, thereby helping domestic companies participate in overseas supply chains.
LG Uplus Corp. said on the 13th that it had signed an agreement to build a trusted data ecosystem for Korean manufacturing with Catena-X, a global automotive industry data ecosystem; Cofinity-X; and the Institute of Blockchain Technology & Service, a domestic data-space specialist.
The signing ceremony, held on the 11th at LG Uplus Corp.'s Yongsan headquarters in Seoul, was attended by Kwon Yong-hyun, head of the Enterprise Division at LG Uplus Corp. and a vice president; Nadine Kanja, head of the Industry Division at Catena-X; Thomas Rösch, CEO of Cofinity-X; and Jung-Ryun Lee, CEO of the Institute of Blockchain Technology & Service, among others.
Catena-X is a data ecosystem in which automakers and parts suppliers exchange information such as carbon emissions and parts production and history according to common standards. It is expanding, particularly in Europe, while Cofinity-X supports companies' participation in Catena-X and their data exchanges. The Institute of Blockchain Technology & Service is responsible for implementing the technology needed for domestic manufacturers to participate in Catena-X.
The agreement focuses on laying the groundwork for domestic manufacturers to exchange securely and efficiently the data required by global supply chains. In global manufacturing, the ability to provide data related to production processes, including carbon emissions and production histories, in line with international standards is becoming increasingly important, in addition to supplying parts and finished products.
The four companies will cooperate to expand domestic manufacturers' participation in Catena-X, apply data standards, link data among supply chain participants in Korea and abroad, and identify domestic use cases. They also plan to explore potential links between the K-Data Space being developed in Korea and global data ecosystems.
LG Uplus Corp. will draw on its business-to-business (B2B) experience and capabilities in telecommunications, cloud, security and systems integration (SI) to support domestic manufacturers from joining Catena-X through data linkage and operations. After establishing use cases centered on the automotive and parts industries, it plans to expand its cooperation to other manufacturing sectors.
“In global manufacturing, the ability to safely and smoothly exchange necessary data with supply chain participants is becoming just as important as making good products,” said Kwon Yong-hyun, a vice president at LG Uplus Corp. “We will support domestic manufacturers so they can participate more easily in global data supply chains.”

[email protected] Yoon Hong-jip Reporter