LG HelloVision, S-1 to jointly enter home security market

South Korea's cable TV provider LG HelloVision and security company S-1 Corp.  announced they will jointly develop a home-based platform using the Internet of Things (IoT) to connect household security services.

LG HelloVision said on Thursday that the two companies had signed an MOU to jointly enter the sector. At the heart of their agreement is cooperation on launching home security products, forming a distribution channel alliance, developing new products and charting out related services.

Their goal is to set up a system to boost home security by tapping the synergy generated between a cable TV operator and a security company.

S-1 develops and supplies smart IoT products for home security. LG HelloVision will support product sales, installation and after-sale service.

Their first joint initiative, set for release early next year and dubbed the Hello Home Door Cam, allows a homeowner to confirm the identity of someone approaching their front door. The two firms will apply smart functions such as communication with a visitor through a phone app, targeting single-person, dual-income and elderly households.

Write to Han-Gyeol Seon at always@hankyung.com