Hyosung ITX announced that it recently signed an MOU with POSCO ICT in the POSCO ICT building in Pangyo, Gyeonggi Province, to develop smart factory solutions. Smart factory solutions are a system to help make quick and right decisions in the process of production by collecting and analyzing data from all of the product-related processes from manufacturing to sales. To achieve this, the two sides will share all technologies related to hardware and software of smart factories involved. Technologies to be shared include MES (Manufacturing Execution System) to schedule works and aggregate results, SCM (Supply Chain Management) of supply chains ranging from parts to customers, and VAS (Visual Analytics System) for real-time analysis through visualization for users to grasp the current situation of quality and process management at a glance.