GE Digital and SMP3 will cooperate in Industrial Internet and develop new solutions for the US firm's Predix platform, the companies announced.
South Korean firm SMP3 specializes in using domain knowledge, data science, and Industrial Internet technology to make solutions for use in asset management, weather and energy predictions, manufacturing, and security.
The two companies will cooperate to digitalize industrial assets for deployments of smart factories, smart infrastructure, and smart cities.
They will also co-develop applications for use on GE's Predix platform and offer consulting services to local manufacturers. The two will also build cybersecurity demo centres together.
"We will develop new business models that combine data science and mechanical modeling based on Industrial Internet platforms," said SMP3 CEO Park Sang-mook.
Samsung Electronics, South Korea's largest manufacturer, is also providing its smart factory solutions to mid-sized firms.