KT Launches New Smart Building Management Service

Rhea-AI Summary

KT Corp. (KRX: 030200; NYSE: KT), South Korea's largest telecommunications company, is set to launch advanced smart building services in collaboration with its subsidiary, KT Estate. The services include "Smart Building Sensing" for real-time monitoring of building operations and "Smart Building BEMS," an energy management system. These offerings aim to reduce operational costs and enhance energy efficiency. The services are mandatory for public buildings and will soon extend to private buildings. Pricing includes 200,000 won per Smart Building Sensing unit and around 125 million won for Smart Building BEMS.

Positive

• Launch of smart building services to enhance energy efficiency and reduce operational costs.
• Mandatory BEMS compliance for public buildings, expanding future business opportunities.
• Cost-effective solutions through cloud-based BEMS model.

Negative

• None.

SEOUL, South Korea, July 31, 2020 /PRNewswire/ -- KT Corp. (KRX: 030200; NYSE: KT), South Korea's largest telecommunications company, plans to launch a suite of smart building services in cooperation with its subsidiary, KT Estate.

The new ICT-based integrated service consists of "Smart Building Sensing" and "Smart Building BEMS", the nation's top telecom company said.

"KT's smart building service ensures safe and convenient building management at low costs," said Moon Sunguk, head of KT's Enterprise New Business Development Unit. "We will continue to expand our product lines with AI technology to provide an integrated building management solution."

"Smart Building Sensing" monitors boilers, water tanks, motors and other operational facilities, alerting the building manager in real time to breakdowns, glitches and other malfunctions. The company's IoT control center assists through around-the-clock, remote monitoring.

"Smart Building BEMS" is a building energy management system jointly developed by KT and KT Estate, which specializes in property development and management. It is a real-time energy management and operational consulting service for building owners and constructors.

Those who apply for building permits are required to submit an energy-saving plan that entails a building energy management system (BEMS) that monitors and controls a building's energy needs. Proof that the BEMS meets regulations must be shown before the building is used.

Currently, public buildings with a floor space of 10,000 square meters or more are required to set up a BEMS. The regulation is scheduled to be extended in 2025 to private buildings with a floor space of 1,000 square meters or more and public buildings with a floor space of 500 square meters or more.

Prospective building owners will also benefit from consulting service provided by KT Estate experts who systematically analyze, measure and evaluate major energy-consuming facilities to improve energy efficiency and conservation.

KT's BEMS model, installed in cloud storage, costs less than the systems operating independently in conventional buildings. Building owners will also be able to slash their maintenance costs, with KT Estate's smart integrated control center offering remote energy management service for five years.

The price for KT's smart building service includes 200,000 won per unit of Smart Building Sensing and approximately 125 million won for second-grade Smart Building BEMS, including five-year operational cost. Further information about these services is available via email at smartbuilding@kt.com.

MEDIA CONTACTS

For inquiries, please contact our Global Media Relations Team at kt.gmrt@gmail.com

ABOUT KT CORPORATION (KRX: 030200; NYSE: KT)

KT Corp., Korea's largest telecommunications service provider, reestablished in 1981 under the Telecommunications Business Act, is leading the era of innovations in the world's most connected country. The company is leading the 4^th industrial revolution with high speed wire/wireless network and new ICT technology. KT launched the world's first nationwide commercial 5G network on April 3, 2019, after successfully showcasing the world's first trial 5G services at the PyeongChang Winter Olympic Games in February 2018. This is another milestone in KT's continuous efforts to deliver essential products and services as it aspires to be the number one ICT Company and People's Company.

For more information, please visit our English website at https://corp.kt.com/eng/

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SOURCE KT Corp.

FAQ

What smart building services is KT launching?

KT is launching Smart Building Sensing and Smart Building BEMS, aimed at improving building management and energy efficiency.

When will KT's smart building services be available?

KT's smart building services are set to launch following the press release dated July 31, 2020.

What is the cost of KT's Smart Building services?

The Smart Building Sensing service costs 200,000 won per unit, while Smart Building BEMS costs approximately 125 million won, including five years of operational support.

Who is responsible for managing KT's smart building services?

KT Estate, a subsidiary of KT Corp., is responsible for managing the smart building services.

How does KT's Smart Building Sensing service work?

The Smart Building Sensing service monitors critical infrastructure like boilers and tanks, alerting managers to malfunctions in real time.