Internet of Gov't Things: Korean Gov't to Invest 100 Billion Won in IoT Testbed Projects | BusinessKorea

Wednesday, August 23, 2017

25 June 2015 - 1:15pm
Jung Suk-yee

The Ministry of Science, ICT and Future Planning (MSIP) has decided to pursue testbed projects in the category of the Internet of Things (IoT) with a more than 100 billion won (US$90 million) investment.

The MSIP announced that it held a meeting to report the initiation of IoT testbed projects at its global R&D center near Seoul on June 24. The projects are aimed to create results in the “creative economy,” as part of the three year plan for K-ICT strategy and economic innovation.

IoT testbed projects are large-scale projects designed to lead the growth of the convergence market by fusing IoT infrastructure and technology in such core areas as autos, health care, energy, urban life, and factories, and to facilitate the development and earlier commercialization of new products and services.

The government agency is going to start seven IoT testbed projects – two projects to build 2 testbed research complexes and five convergence testbed projects – with an investment of 108.5 billion won (US$97 million) over the next three years, including 33.7 billion won (US$30.4 million) in 2015.


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