Since a global breakdown of the recession in 2009, smart factory has been spotlighted as a new means to counter the manufacturing industry's crisis caused by labor shortages, excessive hikes in manufacturing costs and slowing productivity. With the rapid development of technologies leading up to the 4th Industrial Revolution, there are various research about smart factory as a means of creating new values. On the other hand, there is a negative perception. In order to establish a true smart factory, digital transformation of the entire manufacturing value chain must be preceded. It requires a tremendous amount of time and technical investment. Hence, some people doubt the feasibility of smart factory. Therefore, the purpose of this study was to find out the characteristics of two-sided value recognition of smart factory by deriving major issues for domestic smart factory and to contribute to the revitalization of the industry for smart factory. To this end, the major issues of smart factory in Korea were derived by conducting text network analysis based on 17,376 news reports from January 1, 2014 to December 31, 2018. As a result, trends in government-led projects, technology trends, industrial trends, and universities and education businesses were generally identified. On the government side, it was found that government wants to simultaneously create jobs and economic growth through a smart factory. In terms of technology, smart factory was being activated based on the world's first commercialized 5G network technology. On the industrial side, smart factory projects was led by a large corporations, and the business area was expanding from automobiles to energy. In terms of education, it was found that Universities in the Chungcheong provinces were found to be concentrating on nurturing human resources, mainly by establishing new departments related to smart factory.