DBC Signs MOU to Establish Cooperation Framework for Jeju Smart City Challenge Project

7-Party Agreement for Cooperation on Renewable Energy and V2G-Related Work

On the 2nd, the site of the signing ceremony for the 7-party MOU to establish a cooperative system related to renewable energy and V2G (Vehicle To Grid) for the progress of the Jeju Smart City Challenge project. From the left: Moon Seung-il, Director of the Power Research Institute at Seoul National University; Lee Gae-myeong, Head of the Smart Grid Workforce Development Project Group at Jeju National University; Park Cheol-hee, Head of Investment Business Division at Jeju Free International City Development Center (JDC); Hwang Woo-hyun, President of Jeju Energy Corporation; Heo Kyung-ja, CEO of Daekyung Engineering; Kim Seong-du, CEO of Moderntec; and Jo Young-jung, CEO of Daily Blockchain.

[Asia Economy Reporter Jang Hyowon] Daily Blockchain (hereinafter DBC), a specialized ICT solutions company based on 4th industrial revolution technologies, is officially starting the Jeju Smart City Challenge project.

On the 3rd, DBC announced that it attended the signing ceremony of a seven-party Memorandum of Understanding (MOU) aimed at establishing a cooperative system related to renewable energy and V2G (Vehicle To Grid) for the progress of the Jeju Smart City Challenge project.

The MOU, held at the Jeju Renewable Energy Promotion Center, involved a total of seven institutions and companies: ▲ Seoul National University Power Research Institute ▲ Jeju National University Smart Grid Workforce Development Project Group ▲ Jeju Free International City Development Center (JDC) ▲ Jeju Energy Corporation, along with DBC as the lead private consortium and two other companies.

According to the signed agreement, the seven institutions and companies will prioritize the realization of ‘Jeju CFI 2030 and sustainable mutual development’ for the promotion of the ‘2020 Jeju Smart City Challenge project’ being pursued by Jeju Special Self-Governing Province. The participating organizations plan to focus particularly on the demonstration of renewable energy utilization and V2G vehicle operation models within the project.

Jo Youngjoong, CEO of DBC, which is developing the user-centered integrated platform ‘e3DA,’ stated, “Through well-structured planning and preparation stages, the business models verified during the preliminary project phase, such as renewable energy-based V2G and surplus power reduction measures, will show visible results through early commercialization during the main project next year, allowing people to experience the benefits firsthand.” He added, “We will do our best to ensure that this advanced smart city project, linking renewable energy and e-mobility within Jeju Island, is successfully completed.”

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