|Iljin Electric Obtains a Smart Grid Construction from Korea Railroad Corporation||2010.07.23|
Iljin Electric and Korea Railroad Corporation signed a 1.5-billion-won deal to construct an intelligent meter reading system in May.
An intelligent meter reading system is one of the core systems of smart grid that enables two-way communications including real-time measurement of electricity consumption and overload control.
The contract is all the more important since it is the first smart grid sales of the company. Although smart grid business has been regarded as a new growth engine of the industry, actual sales has hardly been made.
According to the contract terms, Iljin Electric will be installing remote meter systems or replacing old models at over 600 train stations nationwide by this year-end, and building a main server in the computing center of Korea Railroad in order to connect the system network.
When the construction is completed, Korea Railroad will be able to encourage each station to voluntarily compete for saving energy.
ˇ°Smart grid business is our new growth drive as well as a field that fully utilizes our accumulated technology and experience,ˇ± said the vice chairman of Iljin Electric, Jin Yong Choi. ˇ°With growth of smart grid market, we will be expanding our business scope beyond intelligent meter reading and electric car charging systems,ˇ± he added.
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