Incheon Free Economic Zone Smart City Technology Export to Southeast Asia Becomes Visible

Incheon Smart City-Kinesis Investment MOU Signing

Incheon Free Economic Zone Smart City Operation Center
[Photo provided by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] The export of smart city-related technologies developed in the Incheon Free Economic Zone to Southeast Asia is becoming tangible.

The Incheon Free Economic Zone Authority announced on the 12th that Incheon Smart City Co., Ltd., wholly funded by Incheon City, recently signed a Memorandum of Understanding (MOU) for the 'AIDEN Smart Healthcare City Project' with Kinesis Investment, a global urban development investment company headquartered in Canada.

AIDEN stands for Artificial Intelligence Digital Ecosystem Network, a smart healthcare concept that introduces artificial intelligence into medicine to pursue innovation across all fields of new drug development and medical services.

The agreement focuses on specializing the project area into a smart city equipped with a geothermal power plant supplying renewable energy as a power source and state-of-the-art medical facilities. Malaysia or Indonesia is likely to be the first project area.

Incheon Smart City agreed with Kinesis Investment to provide consulting based on the Incheon Free Economic Zone smart city platform in the project area, offer technical support for solution application and implementation, and act as an operator.

The Incheon Free Economic Zone Authority plans to formalize the project by signing a contract between Incheon Smart City and Kinesis Investment once the project area is decided, and through intergovernmental agreements.

Seong Gi-wook, CEO of Incheon Smart City, said, "Once this project is fully launched, it will be the first case of the Incheon Free Economic Zone smart city model being exported to a global multinational company. Not only design services but also construction and supervision according to the process can involve Incheon public institutions and companies, and especially, it will be an opportunity to greatly enhance the status of the Incheon Free Economic Zone in Southeast Asia."

A representative of the Incheon Free Economic Zone Authority stated, "It is encouraging that Incheon Smart City is actively expanding its business areas not only in entrusted projects within the Incheon Free Economic Zone but also in overseas smart city consulting," adding, "We will spare no support necessary for the export of the Incheon Free Economic Zone smart city in the future."

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