SK Telecom on Wednesday announced a set of new plans to beef up the nation’s still nascent Internet of Things industry, including building a nationwide network dedicated only to IoT services.

The plans come in line with the government’s new roadmap to nurture start-ups and new businesses related to IoT technology that connects all machines ranging from smartphones to home appliances and vehicles via the Web.


Under the plans, Korea’s largest telecom carrier will build the world’s first nationwide network solely dedicated to IoT services.

To do so, the company is working on Low Power Wide Area Network or LPWA technology that can transmit data over tens of kilometers while consuming much less power compared to existing network technology.

The company also will create a fund to support venture firms and start-ups in the area so that smaller firms or young entrepreneurs can try new ideas without limitations, especially funding issues.

New business models will be offered for venture firms and start-ups to receive fees from device makers or service providers, not from users.

The company also plans to set up a combined control tower and supply special modules for IoT devices.

SK Telecom said it will invest more than 100 billion won ($83 million) in the next two years for related programs and attract more funding from outside the company.

“With the new investment plan we aim to secure a competitive edge in the still nascent IoT industry as well as create an eco-system for local venture firms and start-ups,” said an SK Telecom official.

By Lee Ji-yoon (jylee@heraldcorp.com)