On September 17, a colloquium on Internet of Things (IoT) and OpenStack was held by KAIST at Pangyo. The event was organized to help businesses enter the global market through providing assistance in the excavation of global business items, development of technologies, and formation of global partnerships. The colloquium was funded by the Ministry of Science, ICT and Future Planning.

The main objective of this colloquium was to assist small Korean businesses in entering the global market through exchange and sharing of various information on software and hardware. Not only did the event serve as a ground for information exchange, but it also provided an opportunity for experts in the area of ICT to share their experiences. The two major agendas discussed were IoT and OpenStack technologies and their influence on the businesses around the world.

The two major speakers for the colloquium included Professor Gwanhoo Lee from the Kogod School of Business at American University and Nalee Jang who is the representative of the Korea OpenStack community.

Professor Lee, who is also the head of Center for IT and Global Economy, introduced how IoT is driving the changes and innovations in the global business environment. IoT involves the connection of sensors and communication devices to the Internet for applications in home appliances, mobile devices, wearable computers, and various embedded systems. In the IoT market, the product longevity and technology stack analysis are crucial for the success of companies. Lee outlined how global businesses such as Microsoft, Intel, Apple, Google, and Cisco are taking up IoT and emphasized the importance of forming business partnerships with these companies. Furthermore, he suggested some approaches Korean businesses can take to seize opportunities in the global market.

Nalee Jang introduced how global partnerships can be built using OpenStack. OpenStack is a cloud computing open source technology which focuses on Infrastructure as a Service technology. The OpenStack foundation was first introduced in 2012 and various enterprise companies such as IBM, Dell, VMware, Cisco, and Intel have joined in the development of innovative technologies using OpenStack. Jang’s presentation highlighted which areas of cloud computing are becoming popular and how OpenStack is shaping the future outlook of businesses around the world.

Further information on this year’s and future colloquiums can be found at https://ictc.or.kr.