Regulations on IoT industry will be eased in South Korea
The Ministry of Science, ICT and Future Planning reported a set of deregulation measures to President Park Geun-hye in an interagency meeting held at her office Cheong Wa Dae.
It focuses on lowering the barrier for companies to launch businesses in the Internet of Things (IoT) industry and prompting an early establishment of IoT-only networks nationwide.
The IoT is a network of physical objects, including vehicles, buildings and electronic devices, connected to the Internet to exchange data. It allows such objects to be sensed and controlled remotely.
The government plans to raise transmit power for 900 megahertz, the commonly used bandwidth for IoT, from the current 10 megawatts up to 200 MWh, which would help cut network costs by a third, according to the ministry.
It will also push for the supply of additional frequencies for IoT. Additionally, the launch of new businesses on location-related information services will be changed to a report-based system from the current permission-based one.
The ministry surveyed 754 firms and other organizations from February-March before making its decision.
"Through this reform on regulations, South Korea is expected to better exert its potential power to lead the fourth industrial revolution," ICT Minister Choi Yang-hee said.
The government will continue efforts for the deregulation of the promising ICT field that's crucial to developing the nation's new growth engine, he added. ■