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MSIP Invests KRW 100 Bn in IoT Demonstration Project

According to Yonhap News,

(SEOUL=Yonhap News) The Ministry of Science, ICT and Future Planning (MSIP) held a briefing on a K-ICT Internet of Things (IoT) demonstration project on June 24 at the global research and development center in Pangyo.


As part of a three-year economic innovation plan, the IoT demonstration project supports the commercialization of products and services to facilitate the ICT convergence market, where IoT infrastructure and technology have been converged with other core sectors, including automobile, healthcare, energy, city and plants.

The aim is to restructure the IoT ecosystem currently centered on large-scale companies to become one in which large-scale companies and small- and medium-sized companies coexist.

The MSIP plans to execute seven IoT demonstration projects: Two demonstration complexes with local governments and five convergence demonstration projects with companies.

The two demonstration complexes are smart healthcare complexes (KT, Samsung Electronics) in Daegu and a global smart city (SK Telecom) in Busan.

The five convergence demonstration projects have to do with open-type smart homes, smart grid security, smart car-talk, aftercare service for those severely ill and smart factories.

The MSIP will invest a total of KRW 108.5 billion (USD 96.8 million) in the projects for three years.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (Jun. 24, 2015)

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