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Biz News Korea(Eng)
KEPCO draws IOT investment from Alps Electric
- Collected
- 2016.09.12
- Distributed
- 2016.09.13
- Source
- Go Direct
At Investment cooperation ceremony in Tokyo Friday, Korea Electric Power Corp. (KEPCO) CEO Cho Hwan-eik, (From left) KEPCO official Heo Yong-ho, Alps Electric Korea Co. CEO Kang Dong-wan, Alps Electric Co. CEO Toshihiro Kuriyamo pose for pictures.
KEPCO and Alps Electric agreed to work on projects for the energy cluster including the Internet of Things (IoT) application for power in a ceremony held in Tokyo Friday.
Founded in 1948, Alps Electric is a Japanese maker of home appliances, office equipments and automotive electronics equipments that branched out to 16 countries including Korea. It raked in 523 billion won ($471.7 million) in operating profit on sales of 7.7 trillion won last year.
Alps Electric President Toshihiro Kuriyama told KEPCO CEO Cho Hwan-eik at the ceremony that the Japanese firm will set up a research and development (R&D) center for the IoT in the energy cluster by the end of this year. From there, the Japanese firm plans to set up a production facility for new energy industries in cooperation with KEPCO.
KEPCO has relocated its headquarters to Naju, South Jeolla Province, about 285 kilometers southwest of Seoul in November 2014, as part of a plan to establish the “Bitgaram Energy Valley” to foster the area into a global energy hub like Silicon Valley and Toyota Town.
By Park Yong-beom
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]