KT and Cisco to Enter the "Smart Space" Market

Earlier this month, it was widely reported in the media that KT and Cisco formed a joint venture called KC Smart Service, a collaboration initially intended to manage services for smart buildings and smart cities, beginning in January of 2012.   As reported by InfoWorld The new venture is being funded with starting capital of US$30 million from KT and Cisco. KT will be in charge of the overall management of the operations of the new company which will be headquartered in Korea.The venture will deploy technologies from both KT and Cisco, including Cisco's Unified Service Delivery Platform, Cisco said. The companies have executed agreements that establish the framework for their collaboration, enabling KCSS to have the ability to incorporate the technologies and tools of KT and Cisco. KT and Cisco are also looking at collaborating in business-to-business services and cloud computing.