[THE INVESTOR] Siemens announced on Oct. 10 it will join hands with Hyundai Wia, an auto parts manufacturing affiliate of Hyundai Motor Group, to build a smart factory in Ansan, Gyeonggi Province.

The factory will incorporate information and communications technology into the whole process from planning, design and manufacturing to distribution, enabling production of multiple items in small batches with significantly higher productivity.

The German company operates Amberg factory that has become the gold standard for smart factories, manufacturing 12 million products comprising over 1,000 different items, with 0.001 percent defect rate.

By Hwang You-mee (glamazon@heraldcorp.com)