Samsung is teaming up with another South Korean giant SK Telecom to boost forward into the future by kickstarting an Internet of Things (IoT) test town. The project is going to be tested out in Daegu, located 300 kilometers to the southeast of Seoul. The projected is expected to see city as an hub for cloud computing of large loads of data, smart energy systems, Health care services, Self Driving and Electric vehicles which are all still in early stages of development and are seeing positive growth for the future.
SK telecom stated that it will be investing KRW 90 billion ($76 million) by end 2016 ,to set up a suitable IoT friendly network in the city while Samsung will be sponsoring all the necessary devices and equipment required for the project. Further, the city officials of Daegu also stated that they will be aiming to raise over KRW 1 trillion ($855 million) to support the establishment of infrastructure in the city and provide necessary funds for the development of local startups to make use of this future tech. The project is expected to start from November 2016 with the opening of Center for Creative Economy and Innovation at the Daegu Samsung Creative Campus.