SEOUL — South Korea’s largest telecommunications service provider KT has partnered with Coway, a home appliance subscription service provider, to develop a smart home service focuses on the global market, which is expected to reach $195.3 billion by 2025.
A home automation solution is a network of home appliances and internet of things (IoT) sensors connected to a home network controlled by AI. All devices interact with human owners and each other to provide the best possible home environment. Climate controls the temperature of the home independently.
KT and Coway will jointly develop smart home services to offer bundled subscription plans including KT’s internet and phone plans and Coway’s home appliance rental subscriptions. KT’s AI-powered voice assistant speaker will be integrated into Coway’s upcoming products.
Coway, launched in 1989 as a water purifier rental service company, is now South Korea’s leading home appliance subscription service company providing long-term rental services for water purifiers, air purifiers, beds, couches, massage chairs, and sofas. The company’s water sports are also popular in South Asian countries, especially in Malaysia.
The head of KT’s transformation division, Yoon Kyung-lim, said in a statement on November 30 that the two companies will expand into the global home environment equipment market based on the capabilities of environmental services. Coway and KT live.
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