Seoul, Korea, November 29, 2016 – SK Telecom (NYSE:SKM) today announced that it signed a Memorandum of Understanding (MOU) with Honeywell Korea, the leading provider of automation and control solutions. This MOU brings about the integration of SK Telecom’s LoRa network technology with Honeywell’s sensor and control devices across homes, buildings and factories.
 
Under the MOU, SK Telecom and Honeywell Korea will jointly develop wireless sensors based on SK Telecom’s LoRa network technology. Honeywell Korea plans to launch the LoRa-capable products including thermostats, presence sensors, pipe temperature sensors and fire safety products in the first quarter of 2017. 
 
Wireless sensors applied with LoRa network technology can be easily installed in new homes/buildings and can also replace the existing sensors, significantly driving down the construction and labor costs.
 
“Through the MOU, we will work closely with Honeywell Korea to expand the IoT market by combining our leading IoT technologies with Honeywell’s global top products in the field of automation and control,” said Kwon Song, Executive Vice President and Head of IoT Solution Division of SK Telecom.
 
“With the application of SK Telecom’s IoT network technologies, we not only expect to strengthen our competitiveness and leadership through the provision of differentiated products, but also hope to enter into the IoT-based smart home market,” said Hong Soon-Ho, the President of Honeywell Korea.
 
About Honeywell Home and Building Technologies
Honeywell Home and Building Technologies (HBT) is a global business with more than 44,000 employees worldwide. HBT is a leader in the Internet of Things (IoT) and creates products, software and technologies found in more than 150 million homes and 10 million buildings worldwide. We help homeowners stay connected and in control of their comfort, security and energy use. Commercial building owners and occupants use our technologies to ensure their facilities are safe, energy efficient, sustainable and productive. Our advanced metering hardware and software solutions help electricity, gas and water providers supply customers and communities more efficiently. For more news and information on Honeywell Home and Building Technologies, please visit http://www.honeywell.com/newsroom.