South Korea Fosters IoT-Based Smart Home Industry with Samsung, LG, Hyundai E&C

In partnership with tech giants Samsung, LG, and Hyundai E&C, the South Korean government announces its initiative to bolster the smart home industry, domestically and globally. This venture, organized by the Ministry of Science and ICT, promises prosperous opportunities for IT, construction, and home interior companies in the home automation sector.

During a meeting in Seoul, the Ministry of Science and ICT and experts from Samsung, LG, Hyundai E&C, and interior design companies such as Hanssem and Korean Land & Housing Corporation discussed the development of a robust smart home ecosystem. A smart home refers to an Internet of Things (IoT) system that wirelessly controls multiple devices and applications at home.

Historically, the lack of integration among various companies' IoT platforms hindered users from conveniently accessing integrated services. However, the landscape has evolved since introducing the unified IoT protocol called Matter, spearheaded by major tech companies.

In October 2022, the Connectivity Standards Alliance (CSA), led by global tech giants like Samsung Electronics, LG Electronics, Google, Amazon, and Apple, announced the creation of the IoT standard protocol, Matter. This protocol aims to support interworking and control between different IoT devices and has already attracted the participation of approximately 530 companies.

During the discussion, participants acknowledged that the domestic smart home industry faces obstacles in device development and investment, particularly affecting small and medium-sized companies due to the diverse platform environments set up by industry leaders in IT.

To address this challenge, the participants emphasized the need for collaboration among smart home-related companies, leveraging the recently introduced Matter standard. Additionally, they explored ways to enhance the domestic industry's competitiveness by harnessing artificial intelligence.

The ICT ministry facilitated discussions on public-private cooperation, including the widespread adoption of smart homes in existing and new residential buildings, the establishment of an intelligent smart home alliance, and the reinforcement of security measures.

According to a local pollster Open Survey survey, approximately half of South Korean consumers already own smart home appliances, with a significant number expressing their intention to purchase them in the future. This demonstrates the growing interest and potential in the smart home market.

By fostering innovation, collaboration, and public-private partnerships, the government aims to drive the smart home industry forward and meet the evolving needs of consumers in pursuing a connected and automated lifestyle.

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