CityLabs Signs MOU with iWorks and Port Logistics Big Data Center for 'Smart Port Activation'

[Asia Economy Reporter Jang Hyowon] City Labs, a KOSDAQ-listed company, announced on the 24th that it has signed a business agreement with iWorks and the Port Logistics Big Data Center to strengthen business cooperation and capabilities for building a 4th industrial revolution-type port logistics system. The agreement focuses on AIoT (Artificial Intelligence of Things), DID, NFT, and other blockchain technologies centered on activating 'Smart Port.'

The three companies and organizations participating in this business agreement have selected the integration and processing of various IoT and mobile-based real-time field data within the related industry, including the original data from existing port logistics institutions, into a big data platform as a key task. The aim is to contribute to enhancing the competitiveness of the port logistics industry by enabling the optimization of port logistics systems and the production of high value-added analytical information capable of predicting future processes.

According to the competitiveness ranking based on the container shipping volume (TEU) of global marine ports, Busan Port is listed among the top 50 ports worldwide in South Korea. The company plans to maximize competitiveness through digital transformation into a smart port system domestically, noting that neighboring China alone holds seven ports within the top 10, including Shanghai Port, the world's number one shipping port.

Cho Youngjoong, CEO of City Labs, stated, “Smart ports serve as pivotal hubs that can be the start and end points of logistics systems. This agreement provides a great opportunity to implement key 4th industrial revolution technologies such as blockchain DID and big data, which City Labs has been focusing on. We will develop a reliable optimized system through the issuance and verification of digital certificates related to maritime logistics using NFT technology, and furthermore, we will perform multifaceted roles to improve awareness of port IoT.”

Previously, City Labs has been conducting a project under the 'NIA Data Flagship' initiative as a preliminary step for this project. The project, carried out in a consortium form with iWorks System, involves the 'AI-based Tugboat and Pilot Boat (ship operation automatic analysis) information system analysis and operation system.' This project uses big data and AI technologies to predict various delay causes occurring on tugboats and pilot boats and applies optimization technologies to enhance efficiency.

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