Hanwha Global and KT Corp. announced on Monday that they have signed an MOU to develop smart mining solutions. For this, the duo will be utilizing 5G and LTE communications. This collaboration aims to leverage advanced technologies to enhance the efficiency of operations within the mining sector.
The strategic MOU, promoted by both companies, is designed to expand smart-mining businesses and services, thereby increasing safety and production efficiency at mining and construction sites. By integrating 5G and LTE technologies, Hanwha and KT seek to make mining operations smarter and, eventually, more secure and productive.
The Hanwha Global Sector and KT have outlined several key initiatives under the MOU to expand the smart mining market globally. These include sharing smart blasting technology and mining safety solutions, supporting platform integration with features like remote blasting, and leveraging KT’s communication network and IoT services to drive digital transformation. This partnership aims to maximize synergies through joint research and development and cooperation.
Yoon-seok Park, Head of Global Affairs at Hanwha IS Business, highlighted the importance of this agreement, stating, “We expect this MOU to be a great opportunity to support our partnership with KT and strengthen our competitiveness in the global market.” By combining the core strengths of both companies, they aim to create a more innovative business model that enhances their market presence.
The partnership will incorporate smart technologies, including automation, real-time monitoring, data analysis, and artificial intelligence (AI), to enhance efficiency and ensure worker safety in mining operations. This initiative is expected to result in significant cost savings and environmental benefits.
The companies will exchange knowledge in smart blasting technology and mine safety solutions, work together to integrate their platforms for remote blasting capabilities, and investigate partnerships in telecommunications, Internet-of-Things (IoT) services, and expanding their presence in global markets. Their initial efforts will concentrate on deploying smart mining solutions in Taebaek City, located in Gangwon Province, renowned for its dense mining operations.
KT Gangbuk’s Jang Ji-soon expressed optimism about the partnership, stating, “We are pleased to open a new chapter for global business expansion through our strategic partnership with Hanwha. We will do our best to achieve sustainable growth with Hanwha in the future.” This collaboration aims to enhance operational efficiency and ensure sustainable growth for both companies.
The partnership seeks to optimize mining operations and improve worker safety by leveraging advanced technologies such as automation, real-time monitoring, data analysis, and AI.
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