Nokia Networks is partnering with KT, South Korea’s leading telecommunications provider, to launch the country’s first Internet of Things (IoT) lab. The agreement between the two companies is based on a Memorandum of Understanding which they both signed at the recent Mobile World Congress convention held in Shanghai, China last week.
“Nokia Networks and KT have taken another step forward on an exciting journey that will culminate in the creation of the ‘Programmable World’ in Korea and beyond,” said Andrew Cope, Head of Korea at Nokia Networks. “[W]e have now created Korea’s first IoT lab – a solid proof-point of our commitment to standardize LTE-M and create a strong and sustainable IoT ecosystem.”
South Korea’s first lab will provide the necessary expertise and knowledge on IoT to both small and medium-sized companies to strengthen the foundation for an ecosystem where everyone and everything is connected. By providing technical assistance, these Korean companies will have the chance to enter global markets, expand their business and reach far more potential clients and customers.
“Together with Nokia Networks, we are leveraging upon the convergence of IT and Telecommunications to hasten our transformation into an ICT powerhouse,” said Yun Kyoung-Lim, Head of the Future Convergence Business Office at KT. “Our efforts are aimed at encouraging greater participation by domestic companies, which are a crucial factor in driving the change towards a creative IoT-based economy.”
Some of the other key highlights of the IoT lab include a virtual environment that enables internetworking between businesses and consumers throughout the region through the use of the Nokia Networks’ LTE infrastructure. The lab will also be used to encourage further developments in IoT as well as foster a voluminous knowledge base.
IoT is defined as an interconnection of inanimate objects that are installed with hardware and software that allows connectivity between objects to exchange data through a networking system. Industry leaders see great potential in the network, envisioning an increase in value and efficiency throughout various industries such as transportation, city services and especially the healthcare industry.
“Furthermore, this lab is a strong iteration of our vision to become the number one player in Korea’s IoT market,” said Kyoung-Lim.
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