Xybernaut Chosen by Korean IT and Communications Ministry to Lead ''Ubiquitous Room'' Initiative
Thursday February 3, 10:48 am ET
Intelligent Home Network Market Expected To Be $102.6 Billion By 2007
SEOUL, South Korea--(BUSINESS WIRE)--Feb. 3, 2005--Xybernaut® Corporation (Nasdaq:XYBR - News) and the Ministry for Information and Communications (MIC) for the Republic of Korea today announced that Xybernaut has been chosen by the Korean Ministry to lead efforts for Korea's industry/government sponsored wearable section of the "Ubiquitous Room" initiative which is located at the MIC HQ in Seoul, Korea.
The "Ubiquitous Room" initiative is part of Korea's IT839 Strategy and more specifically a program called The Intelligent Home Network. The IT839 Strategy, which was formally unveiled in early 2004 by Minister Chin Dae-je, was created to help Korea maintain its leadership in information and related technologies.
Industry observers agree that the market for intelligent buildings/rooms is a fast-growing opportunity for technology providers and know-how leaders. In Korea specifically, the goal is to have more than 10 million home networks by 2007 with a broader ambition for Korea to own more than 11% of the world market share in home network technologies. More detailed information related to the Korean IT839 Strategy can be found at mic.go.kr .
As previously announced, the opportunity to participate in and contribute directly to the IT839 Strategy was a key element in establishing Xybernaut Korea Ltd. The nine primary technology areas identified under the IT839 Strategy are Intelligent Service Robots, Intelligent Home Network, Post-PC Era, Next-generation Mobile Communication, Digital Content, IT System-in-chip (IT SoC), Telematics, Embedded Software and Digital TV.
"Xybernaut is very pleased to be participating and in developing the Ubiquitous Room for MIC," stated Edward Newman, Chairman and CEO of Xybernaut. "Under Minister Chin's strong direction and management, Korea has once again demonstrated that it is very serious about being the leader in the next generation of embedded home and office intelligence architectures, pervasive and ubiquitous operating systems, as well as in a wide variety of electronics and traditional 'white goods' appliances for the coming decade."
"We are honored that Dr. Chin and his Ministries have so clearly expressed their confidence in Xybernaut scientists, engineers, and our products by assigning this Ubiquitous Room project to the joint Xybernaut/Korean team who will work very closely on this effort with MIC. We are confident that our abilities and know-how in this and other IT839 Strategy sectors will position us as a strong candidate for further involvement," added Newman.
The MIC commented that "The MIC is very pleased to have Xybernaut leading the mobile/wearable section of the Ubiquitous Room, and anticipate that the efforts will greatly assist Korean industry in taking the lead in these high-growth areas. Since Xybernaut is the international leader in mobile/wearable computing and communications, Xybernaut brings the kind of vision and focus to Korean industry partnerships that will certainly lead to successful positioning in the Post-PC era." |
