Balancing eco-awareness with real-life technology and education solutions: our recent mission to Korea
September 2, 2024
We recently had the chance to meet with a number of technology and educational partners in Seoul and Busan, South Korea. We share below some of our key observations and insights on how Korea is striking a workable balance between eco-awareness and real-life technology and education solutions.
Our sessions mainly focused on sharing evolutions in sustainability practice and regulation in Europe, while also discovering how Korean companies and universities are developing innovations in technology to make industrial, consumer and communications solutions mores sustainable.
One of the main topics we discussed, particularly with Samsung and Kaist College of Business, was IoT. IoT, short for “Internet of Things,” describes the technology paradigm that infuses intelligence and connectivity in the physical world to transform human experience and enhance business outcomes. The ability to integrate sensing and control technologies with communication functions is allowing ordinary objects to interact with their environment and communicate in a broad network.
The Internet connected people, and now IoT is connecting objects. Through IoT, the goal is essentially to connect people to services, resources and other people in an efficient and sustainable way. IoT is transforming many markets and segments from consumer goods to healthcare to the broad industrial segment.
In terms of sustainability, IoT can be particularly powerful in building solutions that minimize waste and reduce environmental impact. These include smarter energy management systems, optimized supply chain processes and more efficient transportation systems.
Our meetings with Samsung and Kaist were also an opportunity to review the following key drivers of sustainability in IoT:
creating devices that are built to last and can be easily upgraded or repurposed rather than becoming obsolete after a short period of time;
using renewable energy sources to power IoT devices to not only reduce carbon footprints but also ensure continuous operation even in areas with limited access to traditional energy sources;
ensuring that data collected by IoT devices is secure and implementing strong security measures such as encryption to keep data protected;
fostering collaboration between different industries and sectors in order to identify innovative ways to use IoT technology for the greater good of society and the planet; and
supporting education and awareness about the potential benefits and risks of IoT in order to enable informed decisions about IoT.
During our mission, we also encountered several interesting IoT use cases that highlight the potential for sustainability and technological innovation. One notable example is the implementation of smart agriculture systems, which leverage IoT sensors to monitor soil moisture, weather conditions and crop health. By providing real-time data, these systems enable farmers to optimize resource usage, reduce water consumption and increase crop yields, while also lowering the risk of fire or sabotage to assets located in very remote areas.
We also learned about the use of smart grids, which utilize IoT technology to enhance the efficiency of energy distribution. Through real-time monitoring and data analytics, smart grids can better manage electricity flow, integrate renewable energy sources, and reduce waste from energy loss. This contributes significantly to reducing the carbon footprint of energy consumption, and can be combined with mini grids or centralized charging and battery solutions, particularly in rural areas.
Additionally, we reviewed advancements in smart waste management solutions. These systems employ IoT-enabled sensors placed in waste containers to monitor fill levels and optimize collection routes. By streamlining waste collection processes, cities can minimize fuel consumption and the overall environmental impact of waste disposal. This technology is particularly advanced in Busan, which has developed in a number of green innovations, including a prototype for a floating city and other innovations, such as technology and energy clusters.
Developing educational programs is also a crucial aspect of utilizing IoT for sustainability, not only to understand the potential benefits, but also how to implement it in a responsible and sustainable manner. This was particularly evident in our visits to the Busan Global Village and Busan Math Culture Center, which are working to develop curricula that provide a healthy balance between eco-awareness and technological imperatives of the future for a tech-savvy workforce that is at once international and distinctly Korean.
Thank you again to Samsung, Kaist College of Business, Busan Global Village and Busan Math Culture Center for your insights and warm welcome! We look forward to collaborating with you and other industry leaders in Korea going forward.
CPM
