Industry 4.0: A Korea perspective

By Tae Kyung Sung. Technological forecasting & social change, 2017

472 citations recorded by the source corpus.

Abstract The objectives of this paper are (1) to have a detailed, practical discussion of Industry 4.0, and (2) to suggest policy implications to transition toward Industry 4.0 in Korea. Companies should consider Industry 4.0 very seriously as they develop their future initiatives since traditional manufacturing business models do not fit with the emerging technologies of Industry 4.0. Some issues should be addressed with care: IT security, reliability and stability needed for critical machine-to-machine communication; a need to maintain the integrity of production processes, avoid IT snags, and protect industrial knowhow; and the lack of adequate skill-sets, general reluctance to change by stakeholders, and loss of many jobs to automatic processes and IT-controlled processes. To successfully transform Korean industry toward Industry 4.0, it is necessary to (1) refine and elaborate the strategies enacted by the central government to build economic and social systems that can flexibly respond to changes, (2) establish some kind of operational system to maximize the effectiveness of initiatives and policies, (3) develop concrete and workable action plans to transition toward economic and social systems that can accommodate innovative changes, and (4) establish infrastructure to lead all initiatives.

View Paper: https://www.semanticscholar.org/paper/fd3af5ca9be9bcd4093d170bd6d48078253b871a

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Citations in the corpus

Driving forces and barriers of Industry 4.0: Do multinational and small and medium-sized companies have equal opportunities? (2019, methodology): “The reliability and stability of the systems must also be ensured, and this is a critical factor in machine-to-machine communication (Sung, 2018; Varghese and Tandur, 2014).”
Artificial Intelligence, Transport and the Smart City: Definitions and Dimensions of a New Mobility Era (2020, background): “…and has morphed into a transformative paradigm representing the computerisation, automation, digitisation and informisation of industrial systems that includes enabling technologies, such as the Cyber-Physical Systems (CPS), the IoT, Enterprise Resource Planning (ERP) and cloud computing [89–93].”
Influences of the Industry 4.0 Revolution on the Human Capital Development and Consumer Behavior: A Systematic Review (2020, background): “However, this does not seem to be able to solve the problem of older workers, as Sung showed [51].”
Industry 4.0 as an enabler of sustainability diffusion in supply chain: an analysis of influential strength of drivers in an emerging economy (2019, background): “0 visualises factories and SCs in such a manner that products and equipment are all interlinked through the internet, communicate with each other and exchange/collect/analyse data (Sung 2018) and processes in the system through Cyber-Physical Systems (CPS) (Branke, Farid, and Shah 2016).”
Industry 4.0: A Bibliometric Review of Its Managerial Intellectual Structure and Potential Evolution in the Service Industries (2019, background): “…and Horch, 2014; O’Halloran and Kvochko, 2015; Syska and Liévre, 2016), undeniably, digital transformation is disrupting entire sectors and industries with the emergence and development of new business models relying significantly on digital technologies (Geissbauer et al., 2016; Sung, 2018).”