KEPCO (South Korea) to spend KRW 100 billion on indigenous IoT solution development

South Korean power utility Korea Electric Power Corporation (KEPCO) will spend about KRW 100 billion to develop research-related internet-of-things (IoT) solutions based on its own proprietary technology that can predict potential failures and reduce downtime in its power grids. The utility aims to develop its own APM software that monitors and detects any future defects in its power generation, transmission and distribution grids by 2019. With the new software, the utility will be able to better forecast and respond to potential outage or overload of its facilities through collected data from sensors, a move that should help reduce downtime in the grids. KEPCO already has a research institute on the IoT technology and plans to install the new IoT solution in its nationwide electric power system after a trial run.