Two South Korean firms come together for creating first IoT city in the world
South Korea: South Korea-based SK Telecom and
Samsung, which are the major Information & Communication Technology firms
in the country, have decided to create an Internet of Things model city in
Daegu with a view to upkeep the “Big Jump” of the early-stage, emerging and
emerging growth companies.
The
initiative for creating the IoT infrastructure in Daegu was declared by the government
personnel of Daegu city along with the key people of Samsung & SK Telecom.
This initiative is a gateway for the Daegu government to come together with the
city based companies for providing an IoT regulation-free zone ecosystem for
the venture firms.
As
per the plan, the metropolitan government of Daegu will propose its
administration help in the initiative whereas Samsung will provide the network
hardware devices with SK Telecom offering the IoT solutions and telecommunication
infrastructure & technologies such as cloud platforms, big data analytic
tools, etc.
Initially,
the establishment of a test bed has been planned by SK Telecom for which the
company will construct an open lab that will provide a platform to the venture
firms for developing new products & services and easy deployment of IoT
platform, ThingPlug, to these firms. Therefore, an investment of USD77.19
million has been proposed by the company towards the end of this year for
establishing the test bed.
Similarly,
the Daegu city has also proposed to invest over USD857.63 million for
developing the future vehicle, energy and medical care based IoT
infrastructures in the coming future. In addition, Samsung has decided to help
the start-ups residing in Daegu Creative Economy Innovation Center for coming
up with new business models and related ideas for giving a boost to the
regional economy. The company will also be offering IoT only network equipment
for up keeping the development of technology.
TechSci
Research depicts that this initiative will provide an appropriate platform to
the venture firms in developing innovative technologies and coming up with new
services and products which will help in increasing the national and regional
economy of the Daegu city.
The
growing technological development, especially in IoT segment across the Asia
Pacific region is developing the overall IoT ecosystem. Recently, TechSci Research published a report “India Internet of Things (IoT) Market Forecast and Opportunities, 2020” which
depicts that IoT market in India is projected to grow at a CAGR over 28% during
2015- 2020.