KEPCO, KT to create smart energy ecosystem

Korea Electric Power Corporation, the state-run electricity provider, has teamed up with KT Corp., the country’s largest telecommunications firm, to map a blueprint for creating a smart energy ecosystem.

Holding a meeting at KEPCO’s new head office in Naju, South Jeolla Province Tuesday, the heads of the two firms signed an agreement on making the combined effort for the smart energy cause.

“By working with KEPCO for convergence of telecommunications and energy technologies, KT will try to produce tangible results in the smart energy businesses,” said Hwang Chang-gyu, chief executive of KT. 

At the Tuesday meeting, the heads of both companies pledged to align their efforts in four projects related to the smart energy ecosystem ― commercializing automatic metering systems using Long Term Evolution technology, installing charging stations for electric vehicles, conducting joint research and development for utilizing big data for energy efficiency, and exporting micro energy grids.

The two companies will start out by running a pilot program for the LTE-based automatic metering systems with 2,000 households in areas including Seoul and Gwangju.

An official from the telecommunications firm said that they would try to export the systems to global markets such as Europe and Southeast Asia.

The two counterparts also signed on to build a research and development cluster for energy technology called the Bitgaram Energy Valley in Gwanju and South Jeolla Province.

Previously, the pair established a special purpose entity with other partners in a bid to enter the market for installing electric car charging infrastructure across the nation. Starting from areas such as Jejudo Island, the entity will invest at least 32 billion won ($29 million) into building up to 5,500 charging stations in Korea for the next three years.

By Kim Young-won (wone0102@heraldcorp.com)