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Samsung to develop IoT security as key future technology

All Headlines 10:39 May 27, 2014

SEOUL, May 27 (Yonhap) -- Samsung Electronics Co., the world's No. 1 mobile phone and memory chip producer, said Tuesday it will develop the Internet of Things (IoT) security sector as one of its key future technologies.

The company's Future Technology Fostering Center said it has selected IoT security and energy storage and harvesting as two projects it wants to enter to keep the tech giant on the cutting edge of industrial and scientific development.

According to Gartner Inc., an American information technology research and advisory firm, the global IoT market reached US$200 billion last year and could become a $1 trillion industry by 2020.

IoT refers to the linking of objects and people to "unique identifiers" by using such devices as barcodes and radio frequency identification tags and automatically transfer data over a network without requiring human-to-human or human-to-machine interaction. This technology has the potential to track and count all manner of things taking place in everyday life and greatly reduce waste and costs.

IoT security is for enhancing privacy of data transferred in this manner through various encryption systems and authentication processes.

Samsung said that as part of its effort, it has invited engineers to submit their ideas on developing IoT security algorithms and protocols, with the suggestions to be received from June 14 through 27.

For energy storage and harvesting, Samsung said the focus is to collect wasted vibration, light, heat and electromagnetic waves and make it into usable energy that can be stored.

The latest announcement augments Samsung's plan made public last year to concentrate on industrial materials development, innovative information and communications technology and basic sciences.

Samsung added that in the future, it will make also efforts in such areas as biometrics, smart structures and advanced traffic networks.

The company announced last year that it will inject 1.5 trillion won (US$1.46 billion) in the next decade to support various future technological developments and to set up an in-house technology fostering center.


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