Strengthening technological competitiveness by combining IoT technology with UK power infrastructure

To enhance the technological competitiveness of domestic companies and expand their presence in overseas markets, we are pursuing a new joint research and development project with the UK Department for Business, Energy and Industrial Strategy (BEIS).

The Korean and British governments agreed to select smart grids as a priority area of cooperation in the newly established Energy Working Group within the 5th Korea-UK Science, Technology and Innovation Partnership (STIP) Committee and to initiate joint research and development projects through working-level consultations between the two countries.

The UK is a country with a wide range of research experience in the energy infrastructure sector, including smart grid demonstrations and power trading platforms. It is expected that this joint Korea-UK research and development will lead to enhanced technological competitiveness and mutual market entry effects in both countries, as it will enable the integration of Korea’s excellent Internet of Things (IoT) technology and the UK’s open power infrastructure.

An official from the Ministry of Trade, Industry and Energy said, “We hope that our companies interested in entering the European market will actively participate, as this will provide opportunities to secure advanced technologies early and take the lead in the international market based on international joint research.”