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The Korea Times reports that LG Uplus is to work with Korea Electric Power Corp (KEPCO) to accelerate penetration of smart grid technology and home Internet of Things (IoT) services

LG Uplus said it would offer its home IoT services to households that have adopted KEPCO's electric power service based on the advanced metering infrastructure (AMI).

'The telecom company said it expects the first-ever cooperation model between a telecom company and a power agency here will ultimately boost energy efficiency and consumer convenience,' Korea Times reported.

It quoted Ahn Sung-joon, head of LG Uplus' IoT service division, sauing: ""If KEPCO's AMI-based service and our home IoT services are combined, this will be an exemplary cooperation case between a telecom company and a power agency.'

In May, the two companies signed an agreement to jointly develop business models for the smart grid system. Under the partnership, the two will provide bundled services combining the AMI system and home IoT services for those participating in the government's smart grid project, launch joint marketing and sales programs for smart grids and seek future business opportunities in overseas markets.