Korea Electric Power Corp. (KEPCO) President Cho Hwan-eik toured the Big Data Center of LG U+, a company specializing in the 4th Industrial Revolution, which is located in Yongsan-gu, Seoul, on Sept. 14 to realize its vision “Digital KEPCO.”
President Cho’s visit to LG U+” is designed to help KEPCO expand an eco-system of new businesses in the power energy sector to brace for the advent of the 4th Industrial Revolution and realize its vision “Digital KEPCO” based on artificial intelligence.
LG U+ has inaugurated the Big Data Center and the AI Service Business Division based on network infrastructure businesses. The telecom service provider has released such services as “U+ Video Portal” tailored to meet individuals’ needs, the company’s representative one. KEPCO now collaborates with LG U+ in such business areas as smart grid, the spread of smart factory and home IoT business. The two companies work on the joint development of AI-activated infrastructure technology for realizing Digital KEPCO.
President Cho said during his visit to the center, “(KEPCO and LG U+) need to closely collaborate in the exclusive development of such areas as AI, IoT and big data to become global leaders to spearhead the 4th Industrial Revolution.”
KEPCO strives to accelerate efforts to speed up innovation through the 4th Industrial Revolution by sharing advanced technologies essential for realizing an energy marketplace based on artificial intelligence and collaborating in energy efficiency and IoT network business areas as well as spearheading creation of future energy industry growth engines, thus contributing to creation of new jobs.
KEPCO aims to rise to a global platform provider spearheading the era of the 4th Industrial Revolution by collaborating with such specialized companies as LG U+ and creating a new eco-system.
KEPCO President Cho shakes hands with Siemens Group Chairman Joe Kaeser during their meeting at the Seoul Shilla Hotel on Sept. 15.
KEPCO’s Collaboration with Siemens
KEPCO President Cho met with Siemens Group Chairman Joe Kaeser at the Seoul Shilla Hotel on Sept. 15 to discuss ways of promoting cooperation in joint technology development of 4th Industrial Revolution and platform business.
KEPCO and Siemens agreed to share the former’s excellent power facility operation capabilities and the latter’s digital and manufacturing capabilities and to promote cooperation to transform KEPCO from a power utilities company to a platform provider.
President Cho said an eco-system of diverse industries connected with smart home appliances and energy IoT will be built through the establishment of an energy marketplace based on digital platform. He stressed the need for the two companies’ closer collaboration for the technology development of the 4th Industrial Revolution s0 that new services and eco-system of the power industry can be established.
In a related development, KEPCO signed an MOU on the joint development of digital solutions corresponding to Korea’s energy systems with Siemens in Germany on Sept. 4. The deal calls for the joint development of an intelligent digital power plant designed to inspect and diagnose power plants in real time under a remote control. KEPCO plans to verify convergence of KEPCO's phasor measurement unit (PMU) and Siemens’ power system operation program.