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Top leaders of Samsung, SoftBank discuss IoT cooperation: sources

All News 22:49 September 29, 2016

SEOUL, Sept. 29 (Yonhap) -- Top leaders of Samsung Electronics Co. and Japanese telecommunications giant SoftBank Corp. met in Seoul Thursday to discuss cooperation in areas including Internet of Things (IoT) technology, sources said.

Lee Jae-yong, vice chairman of Samsung Electronics, met with SoftBank Chairman Masayoshi Son at the Samsung office in Seocho Ward earlier in the day for talks about the semiconductor industry and IoT technology, which connects objects to the Internet and allows them to send and receive data, according to the sources who spoke on the condition of anonymity.

SoftBank recently drew the attention of the IT industry after it announced its purchase of the British semiconductor company ARM, which has been rapidly expanding its presence in the IoT sector.

Samsung has also sought to increase its projects in the IoT and other emerging industries.

"We're paying close attention to see if he'll announce any investment plans or if he'll invest in South Korea," said an industry official who requested anonymity.

Son is scheduled to meet with President Park Geun-hye at the presidential office Cheong Wa Dae on Friday.


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