IBM announced its collaboration with POSCO ICT to develop South Korea’s first renewable energy management system for a smart grid. As part of South Korea’s national Smart Grid initiative to achieve the vision of “Low carbon, Green growth,” the intelligent renewable energy management system will be installed as a showcase at the Smart Grid Demonstration Complex located on Jeju Island. Driven by a desire for greater energy security, sustained economic growth, and reduced environmental impact, the Korean government, together with the country’s leading technology companies, has embarked on a bold smart grid strategy. The Smart Grid initiative, spearheaded by the Jeju Island Smart Grid Demonstration Project, is a comprehensive program that covers Smart Power Grid, Smart Consumers, Smart Transportation, Smart Renewable Energy, and Smart Electricity Services. Its goal is to promote economic growth for the country and set a foundation for Korean companies’ technological strength in the global smart grid market. Read More
