LG CNS enters steel scrap market

From left: LG CNS CEO Hyun Shin-gyoon, Aimos CEO Kim Beom-seock and Daehan Steel CEO OH Chi-hoon pose for a photo during the joint venture launch event held in Busan, Tuesday. (LG CNS)

LG CNS said Thursday that the company has entered the steel scrap market by setting up a joint venture with local steel firm Daehan Steel.

The new entity, called Aimos, will develop a cloud and artificial intelligence-based solution that can sort out scrap steel from metallic waste.

“The demand for steel scrap is increasing along with the wider adoption of environment-friendly electric arc furnaces that use steel scrap as its raw material,” an official from LG CNS said.

Its new solution has studied hundreds of thousands of steel scrap images provided by Daehan Steel. It can recognize different sizes, types and grades of steel scrap through vision cameras.

Aimos will provide the solution as on-demand software to corporate clients.

“LG CNS will continue to accelerate the digital transformation of Aimos to help local steel companies advance their sustainable steel production,” said LG CNS CEO Hyun Shin-gyoon.

By Shim Woo-hyun(ws@heraldcorp.com)