LH Signs Business Agreement with Korea Institute of Civil Engineering and Building Technology for Commercialization of Smart Construction Technology

[Asia Economy Reporter Yoo In-ho] LH announced on the 27th that it has signed a business agreement with the Korea Institute of Civil Engineering and Building Technology (KICT) for the commercialization of smart construction technology.

Both organizations agreed on the necessity of organic collaboration to establish a domestic construction technology innovation platform, including research, development, and verification for the introduction of smart construction technology on-site, and decided to cooperate mutually to lay the foundation for the application of field-linked smart construction technology.

Through this agreement, if KICT is selected as the research institute for the "Smart Construction Technology Development Project through Road Demonstration," currently being solicited by the Ministry of Land, Infrastructure and Transport, LH will be able to jointly participate in the technical verification of detailed research tasks. This project will invest a total of 196.9 billion KRW, including 147.6 billion KRW in government funds and 49.3 billion KRW from the private sector over approximately six years.

LH plans to utilize its advantage of having the largest number of construction sites in Korea by providing sites for technology verification and creating an environment where the technology can be quickly disseminated and established in the market after actual application.

Led by public institutions, step-by-step technologies will be developed considering changes in the construction industry market and technology, and research outcomes of small and venture companies will be linked to actual construction projects. Through this, effects such as comprehensive application and verification of developed technologies, establishment of a domestic smart construction technology innovation ecosystem, and securing global technological competitiveness are expected.

Byun Chang-hoom, President of LH, said, “Based on the trust and cooperation between the two organizations, we will actively take the lead in creating an environment to strengthen the capabilities of small and venture companies specialized in the construction industry and in the development of domestic smart construction technology.”

This content was produced with the assistance of AI translation services.