Sonid, Signs Multilateral MOU to Develop 'Awesome Market' IoT Smart Logistics Management Solution

[Asia Economy Reporter Jang Hyowon] SonyD, a KOSDAQ-listed company, announced on the 7th that it has signed a multilateral Memorandum of Understanding (MOU) with Poltrade, the largest refurbished product distributor in Korea, GS Payment, a specialist in electronic payment gateway (PG) services, and its subsidiary SonyDLab to develop an Internet of Things (IoT)-based smart logistics management solution, which will be first applied to ‘Awesome Market’.

This MOU aims to collaboratively develop an IoT smart logistics management solution by integrating the electronic tag (RFID) technology secured by SonyD and its subsidiary SonyDLab, focusing on infrastructure sales for industry adoption and technological advancement of the system. The company stated that the developed solution will initially be applied to ‘Awesome Market’ and plans to expand its application to large distribution marketplaces and retail stores nationwide.

Through this MOU, SonyD will engage in the production and supply of IoT smart logistics hardware such as electronic tags (RFID) and tag readers. Additionally, Poltrade (CEO Lee Yunhee), which is constructing a mega-warehouse center of approximately 10,000 pyeong in the Chungju or Anseong area for refurbished product distribution, will participate in the establishment and apply the related solution.

Poltrade, Korea’s largest refurbished distribution specialist securing nationwide retailers and large distributors as suppliers, will be responsible for acquiring and providing actual databases necessary for solution advancement under this MOU. Given its active role in the distribution sector, it will also take charge of infrastructure sales support targeting distributors and logistics centers in the IoT smart logistics solution field. Poltrade currently operates approximately 87 refurbished product specialty stores under the name ‘Awesome Market’ in domestic locations including Homeplus.

GS Payment, a PG specialist company, will address PG services arising during solution development, supply, and implementation processes, while SonyD’s subsidiary SonyDLab will be responsible for developing and providing the RFID-based IoT smart logistics solution ‘ThinkTag.’

Choi Simyeong, CEO of SonyD, stated, “The smart logistics industry, which is forming a massive market worth hundreds of trillions, is accelerating its transition to highly efficient digital systems. Securing technological competitiveness in each field will bring various opportunities. Our proprietary RFID solution already significantly reduces time and costs compared to existing barcode logistics systems. Through technological advancement and cooperative frameworks established by this MOU, we plan to rapidly pioneer the market by securing substitute demand in the related market.”