IoT tops Korea’s telecom firms’ new agenda

The three local mobile carriers are diversifying their business portfolios amid saturation of the domestic mobile telecom market.

SK Telecom, KT and LG Uplus are likely to strengthen their focus on the Internet of Things (IoT), one of the major new growth engines for the telecom industry. SK Telecom, the nation’s largest mobile carrier, said it is looking to three new businesses ― media, healthcare and business-to-business (B2B) including the IoT ― in the coming years.

KT, the nation’s largest fixed-line operator, plans to continue its five key new businesses ― smart energy, integrated security systems, media, healthcare and intelligent traffic control. Chairman Hwang Chang-gyu pledged to foster the five segments.

LG Uplus, the nation’s smallest telecom firm, said it will expand its effort to take the next step from its existing telecom businesses. In an end of year press conference on Dec. 5, Vice Chairman Lee Sang-chul emphasized that “now is the tipping point to cope with the biggest changes the world’s information and communication technology industry has seen so far.”

For full article, see Korea Times.

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