The Southern Capital Region's Core 'Osan Unamtteul', Private-Led 'Smart City' in Focus

Hyundai Engineering-KT Sign Cooperation Agreement for Osan Unamdeul Smart City Development
Promotion of Cooperation for Basic Planning and Development of Osan Unamdeul Smart City
Hyundai Engineering-KT Expand Business Cooperation in Smart City Service Sector
Full-Scale Establishment of Osan Unamdeul Smart City Master Plan
Expect to Discover Various Business Opportunities through Joint Entry into Smart City Development Projects

Hyundai Engineering and KT signed an MOU for the development of the Unamtteul Smart City in Osan, Gyeonggi-do on the 19th. On this day, at Hyundai Engineering's Gyedong headquarters in Jongno-gu, Seoul, Hyundai Engineering CEO Kim Chang-hak (left) and KT Enterprise Division Head Shin Su-jeong took a commemorative photo after signing the MOU.

[Asia Economy Reporter Kangwook Cho] Hyundai Engineering and KT are promoting joint cooperation for the development of the ‘Osan Unamtteul Smart City.’

Hyundai Engineering announced on the 21st that it signed a memorandum of understanding (MOU) with KT on ‘Osan Unamtteul Smart City Development Cooperation.’

The signing ceremony held on the 19th at Hyundai Engineering’s Gyedong headquarters was attended by Hyundai Engineering CEO Changhak Kim, KT Enterprise Division Head Sujeong Shin, and other officials from both sides, who discussed future cooperation plans.

The main contents of the business agreement between the two companies include △ cooperation on the basic concept and development of Osan Unamtteul Smart City △ cooperation on joint participation plans for the project △ cooperation on expanding smart city services △ building a data ecosystem using an urban development platform △ development of living service infrastructure △ cooperation on innovative service development.

Aerial view of Osan Unamdeul Smart City.

Osan Unamtteul Smart City is a complex district development project jointly promoted by Hyundai Engineering and Osan City, supplying land for knowledge industry facilities, multi-family housing, neighborhood living facilities, and complex facilities on the east side of Osan City Hall.

The Osan Unamtteul project site is evaluated as a key location in the southern metropolitan area and is attracting great interest as a large-scale joint investment development project where the private and public sectors jointly promote a smart city.

Previously, Hyundai Engineering was selected as the preferred negotiation partner for the Osan Unamtteul complex district in July 2019. Subsequently, in December last year, Osan City and Hyundai Engineering signed a business agreement to promote cooperation for the development of Osan Unamtteul Smart City. Currently, they are establishing a master plan to realize a city centered on smart education, smart mobility, and digital twin technology.

With this business cooperation, Hyundai Engineering expects that the participation of ICT company KT in establishing the Osan Unamtteul Smart City master plan will further accelerate the construction of a data ecosystem, an essential element of smart cities such as AI and big data.

A Hyundai Engineering official said, “Osan Unamtteul Smart City is the first proposal-type smart city project led by a private construction company. We expect synergy to be created through the cooperation between our smart city developer capabilities and KT’s ICT capabilities in the development of Osan Unamtteul Smart City,” adding, “We will do our best to ensure the successful promotion of Osan Unamtteul Smart City.”

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