South Korea’s LG U+ recruits 50,000 subscribers to home IoT service

LG U+ has gathered over 50,000 subscribers to its IoT service within four months of launch

South Korean cellular carrier owned by the LG Group LG U+ has announced that it has garnered over 50,000 subscribers to its home Internet of Things service, which allows homeowners to control their household devices via their smartphones.

The company reported last week that its subscriber base exceeded 51,000 four months after the IoT service was launched. Just last month, LG U+ reported that its average daily subscribers jumped from 500 to 1000.

According to BusinessKorea, the service allows the control of various switches, plugs and gas valves remotely. It adds that customers are inclined to subscribe to ‘easy-to-use’ services, such as smart plugs, door-opening sensors, energy meters and gas locks.

The company also has plans to partner with Samsung SDS to launch a new IoT ‘U + Door Lock’ service, which will allow users to lock and unlock doors remotely, through applications downloaded to their smartphones.

LG U+ signs MoU for smart grid

Earlier this year, the cellular carrier signed an Memorandum of Understanding with the Korean Electric Power Corporation (KEPCO) to develop next-generation smart grid business models by creating synergies between electricity and Internet of Things technologies.

LG U+ and KEPCO will work together to “improve the energy efficiency of buildings based on Internet of Things technology, provide power consumption information through IPTV in real time and develop a real-time electric power facility safety monitoring solution based on LTE technology.”

KEPCO and LGU+ will also work together to secure the security system of AMI communications networks and Internet of Things-based electric power facilities, as well as develop smart grid business models for industrial complexes.

Under the MoU, the state utility and telecommunications operator will collaborate with other relevant domestic companies to actively develop international and domestic smart grid business models.