 |
| A KT employee holds the "IoT Gateway" telecommunication device. The nation's leading fixed-line operator said Friday that it has teamed up with Qualcomm to develop the device which is used in automated teller machines. / Courtesy of KT |
By Lee Min-hyung
KT has partnered with Qualcomm to develop a telecommunications device that offers more secure banking within the Internet of Things (IoT).
The company said the wireless IoT Gateway reduces maintenance costs of automated teller machines (ATM) by half compared with the traditional wired network system. This also means the wireless system is not limited by space, enabling more ATMs to be installed at places where a wired network is unavailable, the company said.
The IoT Gateway was developed by KT and Qualcomm. KT said its IoT security technology was converged with the U.S.-based mobile processor maker's chip design expertise.
"We will continue to provide more reliable IoT services by using our secure networking technology," Yoon Kyung-lim, chief of KT's future convergence business office, said.
Qualcomm Korea President Lee Te-won said: "Qualcomm will keep collaborating with KT to develop new IoT solutions in various sectors."
Both companies prioritized establishing a safe banking environment with the device, KT said. The IoT Gateway-embedded ATMs will work in networks such as Wi-Fi, Bluetooth or long-term evolution (LTE).
KT and Qualcomm said they will apply the IoT Gateway to some 10,000 ATMs over the next three years and seek new business models using the technology.
The IoT system is expected to bring positive effects as it guarantees security, Nice Total Cash Management Service said. "The IoT security system is aimed at preventing our customers from being exposed to ATM hackings and card-scamming attempts."
![[ANALYSIS] Tesla, BYD's price cuts unnerve LGES, Samsung, SK](https://img.koreatimes.co.kr/upload/thumbnailV2/b1cf8ba68d474cb69352bfe7ea9d14f0.jpg/dims/resize/178/optimize)
![[INTERVIEW] How ATEEZ achieved worldwide success](https://img.koreatimes.co.kr/upload/thumbnailV2/c7723b56dde94eb4b260950d368fe8fb.jpg/dims/resize/178/optimize)
