South Korea's No. 3 mobile carrier, LG Uplus Corp., said Wednesday it would work together with U.S. tech giant Qualcomm Inc. to support local startups, especially for those with business projects related to the Internet of Things industry.

Under the move, LG Uplus and Qualcomm will chip in $100,000 each for IoT-related projects proposed by South Korean startups.

IoT is a concept in which all tangible objects are connected to the Internet and can identify themselves to other devices to exchange necessary data for improved efficiency and convenience.

LG Uplus said examples of such projects can include a robot equipped with the long-term evolution network platform.

The South Korean mobile carrier already had joined forces with Qualcomm last year, assisting a South Korean startup to develop a LTE-powered video drone. (Yonhap)