KOICA-LH Sign MOU for Collaboration in Smart City and Infrastructure Sectors in Developing Countries

Supporting ODA Partner Countries in Solving Urban Issues and Assisting Domestic Companies' Overseas Expansion in Smart City and Infrastructure Sectors

[Asia Economy Reporter Lim Cheol-young] KOICA (Korea International Cooperation Agency) announced on the 29th that it signed a Memorandum of Understanding (MOU) on the 28th at its headquarters in Seongnam-si, Gyeonggi-do with the Korea Land and Housing Corporation (LH) to strengthen mutual cooperation in the fields of smart cities and infrastructure to solve urban problems in developing countries.

This agreement was established to seek sustainable development plans for developing countries through solving urban problems by applying smart city models, and to support the overseas expansion of domestic companies by analyzing smart city development plans and demands in ODA partner countries.

According to the agreement, the two organizations will establish a comprehensive cooperation system including △ exploring organic linkage plans between KOICA's ODA projects and LH's investment and development projects △ sharing information on the current status and plans in the urban sector for the development of developing countries △ linking smart city and infrastructure implementation projects in major ODA partner countries such as Southeast Asia and Latin America with development cooperation projects △ dispatching experts to discover and form advisory and cooperation projects for developing countries.

Im Ki-young, President of KOICA, said, “Applying smart city models can be an efficient means to achieve the 11th Sustainable Development Goal (SDG) set by the United Nations, which is to create inclusive, safe, resilient, and sustainable cities and communities.” She added, “I hope this agreement will serve as an opportunity for KOICA to proactively discover good city-building projects and open the door for domestic companies to participate in smart city and infrastructure projects in developing countries.” She continued, “Let us create a model case of collaboration between KOICA and LH.”

KOICA and LH plan to share global social values and visions such as sustainability and eco-friendliness needed in developing country cities from the early stages of project planning, discover detailed implementation projects, and continue follow-up investment development by related organizations to identify more effective overseas projects.

Additionally, to efficiently implement this MOU, the two organizations plan to share their professional experience, information, and global networks, and promote holding working-level councils.

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