CityLabs Selected as Lead Operator for 'Daegu Smart City Innovation Technology Discovery Project'

[Asia Economy Reporter Jang Hyowon] City Labs, a KOSDAQ-listed company, announced on the 25th that it has been selected as the lead operator for the ‘Daegu Smart City Innovation Technology Discovery Project.’

The ‘Daegu Smart City Innovation Technology Discovery Project,’ for which City Labs was selected as the lead operator, is the only intelligent urban safety platform construction project being conducted among local governments in the Yeongnam region, with a total project budget of 1.7 billion KRW. City Labs formed a consortium with Daegu’s Dalseo-gu district, Think Generator, Joinit, Ginosys, and Winitech to win the project and was finally selected as the lead operator.

The company explained that the background for winning this project was the strong evaluation of its proprietary blockchain solution, MiddleBlock, which it successfully internalized through several years of R&D investment, and the achievements in building a risk structure safety diagnosis platform based on this technology, which were key competitive advantages.

City Labs plans to install a total of over 700 Internet of Things (IoT) sensors equipped with innovative technologies such as blockchain on 200 aging buildings in the Dalseo-gu area of Daegu, the project site, and proceed with the demonstration of the intelligent urban safety platform. By utilizing blockchain IoT sensor technology to remotely monitor the tilt and cracks of aging buildings in real time and preemptively recognize risk signs, the company aims to propose a sustainable safety diagnosis model and establish it as a representative smart city safety management solution.

Jo Youngjoong, CEO of City Labs, said, “This project is a large-scale mid- to long-term project planned not only to expand domestic business until 2025 but also to export global innovative technologies. Through successful development and the first phase of demonstration over the next year, City Labs will be able to create an opportunity to solidify its position as a leading operator in national smart city technology projects.”

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