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Samsung Electronics, LG Electronics, Hyundai E&C, and Korea Land & Housing Corp. (LH) have agreed to collaborate with Korea's Ministry of Science and ICT to promote the smart home market. The said major companies will form an alliance for this and make headway in the exploration of business opportunities overseas.
As per The Korea Times, the government will set up a smart home alliance with major IT and construction companies which include LG, Samsung, Hyundai E&C, and LH. The ICT Minister said the target date for the launch is by the end of the year.
Lee Jong Ho, the Science and ICT Minister in Korea, said, "The smart home market is changing rapidly. Global companies are already leading standardization and focusing on service differentiation, so it is urgent to take advantage of the global market transition period to create new markets."
The minister further shared that the administration is joining forces with local firms to "discover leading intelligent home business models and services that apply global standards and support the development of the aftermarket to enable the use of smart homes."
The aim of the government for this cooperation with LG, Samsung, Hyundai E&C, and LH is to make the future smart home more advanced than the ones being used today, such as home appliances and lighting systems that can be controlled by AI. With the deal, the ministry is hoping that the smart home industry will spread quickly and help boost the local firms' competitiveness in the global market.
For its part, the government will promote the "Intelligent Home (AI@Home) Project" for the consumers to use smart technologies for homes and for companies to apply them in their projects. The officials will establish certification for Intelligent Home (AI@Home) to endorse the branding.
Korea Business News reported that Lee Jong Ho also said they will actively utilize the global market transition period to discover leading intelligent home models. He further stated that they "will listen to the opinions of the field and actively support them so that the intelligent home can become a new food and change our lives more conveniently."
Photo by: Samsung Media Library
