CityLabs Selected as Main Contractor for 22 Billion KRW 'Jeju Smart City Challenge' Project

[Asia Economy Reporter Jang Hyowon] City Labs, an ICT solution company specializing in 4th industrial revolution technologies, announced on the 24th that it has been selected as the main operator for the '2021 Jeju Special Self-Governing Province Smart City Challenge (hereinafter Jeju Smart City Challenge),' with a total project cost of 22 billion KRW.

The Ministry of Land, Infrastructure and Transport has previously selected a total of three main project sites for the '2021 Smart City Challenge Main Project' from seven preliminary project sites, including Jeju, Busan Metropolitan City, and Gangneung City.

Over the past year, City Labs, selected as the lead for the preliminary project, has led 11 companies and institutions including GS Caltex and Jinwoo Soft, supporting integrated platforms and blockchain technology during the temporary introduction of smart hubs and shared mobility within Jeju Island, thereby assessing the feasibility of advancing the main project.

Jeju Island, finally selected as the main project site for the Smart City Challenge, will see a total project investment of 22 billion KRW over the next two years to actively proceed with the smart hub construction project linking renewable energy and shared mobility. Gas stations throughout Jeju will be converted into electric vehicle charging and shared mobility locations, and lifestyle-oriented smart hub models will be introduced in urban marts and convenience stores. Regional hub centers connecting agricultural, fishing villages, and tourist sites will also be established.

City Labs, responsible for both the preliminary and main projects of the 'Jeju Smart City Challenge,' plans to comprehensively operate the project during its duration, focusing on the construction and utilization of ▲Smart Hub ▲e-3DA platform encompassing mobility, energy trading, and the sharing economy based on blockchain technology.

Cho Youngjoong, CEO of City Labs, stated, “Since this project, which we have been deeply committed to with numerous considerations and efforts alongside the working-level staff since the preliminary project phase, has resulted in the final selection as the main operator, we plan to address the various trial and errors experienced so far and build a smart city model recognized as an advanced case.” He added, “This project aims to standardize the 4th industrial revolution smart city model centered on smart hubs such as renewable energy and green mobility. We will consolidate City Labs’ strengths in blockchain-based technology to develop core solutions that can attract attention in overseas markets as well.”

The 'Ministry of Land, Infrastructure and Transport Smart City Challenge' project utilizes creative ideas from local governments, private companies, and universities to solve urban issues such as transportation and commercialize smart solution services. Following the selection of the second main project sites, the third preliminary project site recruitment for 2021 is currently underway.

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