IOT Network
The world’s first nationwide Internet of Things (IoT) network will be established in Korea.
SK Telecom, the country’s top wireless carrier, announced its plans on March 16 to build the nationwide IoT network this year, manage funds to support for the IoT promotion, build an IoT control center and develop IoT-dedicated modules.
In a bid to lead the IoT market, the mobile carrier plans to make a direct investment of over 100 billion won (US$83.79 million) over the next two years for the project.
Under the plan, SK Telecom will build the nationwide IoT network within the year. It said it will be the world’s first nationwide network for the IoT alone. The company plans to encompass various future IoT devices efficiently by establishing the low capacity and low power network, unlike existing networks, which guarantee high speeds but cost a lot of money.
Moreover, SK Telecom will seek and foster promising IoT ventures firms and start-ups, and raise and operate funds to support them.
With its business models, the company will charge IoT service providers instead of users. Changing the paradigm of mobile carriers that get monthly fees from customers, the company will receive royalties from device manufacturers or service providers, instead of users.
In addition, SK Telecom will establish an IoT control center, develop IoT-dedicated modules and provide them for free to startups and small- and mid-sized enterprises.
Once the nationwide IoT network is built, it will be possible to track the location of all connected devices embedding low power modules in real time. It will reduce the number of lost IoT devices, including smartphone, create various real-life services, such as electricity meter and drone.