Press Release
June 18, LG Electronics Signature Kitchen Suite Showroom in Nonhyeon, Sang Yoon Lee, VP of Korean B2B Sector of LG Electronics (Left) and Geon Gu Lee, CEO of Hyundai Telecom (Right) signed MOU for smart home IoT partnership and cooperation in development.
On the 18th, Hyundai Telecom, a lead company in smart home IoT technology, has announced that it has signed MOU with LG Electronics for business partnership for smart home market in Korea and overseas, and to develop platform and special service together. Geon Gu Lee, CEO of Hyundai Telecom, Sang Yoon Lee, VP of LG Electronics, and others from both companies attended the ceremony.
Through the MOU, both companies plan to provide distinguished smart home service and implement strategic partnership marketing.
Both companies agreed for smart home electronic device control, AI voice recognition and visitor information service through platform integration and development of mobile app-based services. Through the partnership, both companies will provide in-depth smart home services to customers and increase competitive edges.
Hyundai Telecom produced and supplied wall pads to Korea’s leading construction companies, and achieved No. 1 in market share in nationwide new apartment construction last year.
Moreover, HT has provided services through partnership with mobile carriers and electronic companies in various industry fields. With various sales marketing activities in Korea and overseas, HT has re-established its position as the best smart home IoT company in Korea.
Through the MOU, it is expected that competitive edges of ‘HT Home’, Hyundai Telecom platform, and ‘LG ThinQ’, LG’s artificial intelligence brand.