Hyosung and Taihan Electric Wire to Develop Smart Electric Cable Monitoring System
19 Apr 2018
South Korea’s Hyosung Group and Taihan Electric Wire Co. will work together to turn electric power stations smart with latest technologies such as the Internet of Things and big data analytics solutions.
Hyosung announced that it inked an agreement with Taihan Electric Wire to cooperate on developing an integrated electric power station management solution. Under the contract, they will develop a smart electricity cable system that monitors and detects any possible malfunctioning beforehand through sensors attached to 154- kilovolt electric substations and 22.9-kilovolt power cables.
They expect the smart electric cable monitoring system would help prevent major power outages like blackouts in Jeju in 2006 and in Busan’s new town last year due to electric power failure, said Hyosung.
The company also will market the smart electric cable monitoring system once they complete the development and implementation, said a Hyosung official.
Hyosung’s latest partnership with Taihan Electric Wire is part of its goal to innovate its business framework in the era of the fourth industrial revolution. Hyosung Group Chairman Cho Hyun-joon in his New Year`s address said data gathering and analysis have been increasingly important in all areas, vowing to transform the group’s business platform based on information technology and its key big data analysis.