The Korea Electronics Technology Institute (KETI) announced on Sept. 17 that it has signed a memorandum of understanding with Korea Western Power Co. (KWP) to cooperate in promoting the eco-friendly power industry and smart power plants based on the two firms’ expertise.
Under the agreement, the two companies will strengthen cooperation to jointly develop technologies for smart safety management and digital operation of power plants, improve power plant facilities and test beds by making use of information and communication technology (ICT), and train experts in technologies that are shaping the Fourth Industrial Revolution and foster small and medium-sized enterprises (SMEs) in the power sector.
Researchers at the two organizations will gather to share their technologies next month and jointly hold technical tie-up seminars to come up with detailed cooperative projects, including joint research and development (R&D). They will also expand the scope of cooperation to their partner companies in the future to provide new business opportunities to SMEs and help them raise their technical competitiveness.
KETI has been strengthening cooperation with companies through the development of relevant technologies such as the Internet of Things (IoT), smart sensors, virtual reality (VR) and augmented reality (AR).
KWP is one of the state-run companies committed to environment protection. It is the world's seventh operater of an integrated gasification combined cycle (IGCC). Accordingly, the two companies will be able to create a great synergy effect through the agreement. Kim Young-sam, president of KETI, said, “Entering the era of the Fourth Industrial Revolution, smart power plants integrating core ICT technologies, including the IoT, smart sensors, VR and AR, are the needs of the times. We expect to improve efficiency of existing power plants and raise the global competitiveness of next-generation power plants by integrating KWP’s expertise in eco-friendly power plant operation.”