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A Study on Policies to Promote the IIoT Industry in Seoul

Bong ChoiㆍYoon-Hyi Jang

The Internet of Things (IoT) is an intensively discussed topic in industry, government and academia. The industrial application of IoT are Industrial Internet of Things (IIoT) also called Industry 4.0, offers a significant innovation potential for entire industries. IIoT is a new industrial ecosystem that combines intelligent and autonomous machines, advanced predictive analytics, and machine-human collaboration to improve productivity, efficiency and reliability. Both IoT and IIoT have technical challenges, but the risks and complexities for autonomous industrial applications are inherently higher.
Accordingly, Seoul Metropolitan Government (SMG), which recognizes the importance of the IoT, strive to foster the Internet of Things industry. But despite the importance and growth potential of IIoT, interest in IIoT is relatively low.
The purpose of this study is to present policies for promotion that can ensure the substantial leap of Seoul’s IIoT industry and market. Considering the results of this study, SMG should contemplate the following policy directions. First, it is necessary to develop a policy with the commercialization of the actors participating in new IIoT product/service development in mind. Second, consider creating value between and within industries through the IIoT. Third, consider redefining roles and values of process, data etc. Fourth, it is necessary to consider support policies for the entire life cycle of commercialization from the business selection to the final after sales service.