LH and Hyundai Motor Group Join Forces to Create Smart Cities

Korea Land and Housing Corporation (LH) announced on the 3rd that it has signed a basic agreement with Hyundai Motor Group to cooperate in the smart city sector.

This agreement was made to solve urban social problems using future advanced technologies through public-private collaboration and to discover smart services that anyone can easily use, thereby creating a more advanced smart city. The signing ceremony was attended by Lee Sang-wook, Vice President of LH, and Kim Heung-soo, Vice President of Hyundai Motor Group.

Lee Sang-wook, Vice President of Korea Land and Housing Corporation (LH) (left), and Kim Heung-soo, Vice President of Hyundai Motor Group, are taking a commemorative photo after signing a basic agreement for cooperation in the smart city sector at KINTEX Exhibition Hall 1 on the 3rd. / Photo by LH

The two organizations will mutually cooperate in ▲discovering new technologies applicable to residential and urban spaces and planning and demonstrating new services ▲predicting changes in urban spatial structure due to technological evolution such as future mobility and artificial intelligence (AI) ▲jointly discovering business models for exporting excellent K-Cities.

Starting with this agreement, LH plans to establish various cooperation systems to maximize synergy in the smart city sector and proactively respond to future urban changes to provide residential and urban spaces desired by the public.

Hyundai Motor Group was selected last November in the Ministry of Land, Infrastructure and Transport’s 'Mobility Specialized City Creation Contest' and is currently establishing a future mobility specialization plan for the Siheung district in Gwangmyeong City, Gyeonggi Province. LH plans to closely consult with Hyundai Motor Group to review the incorporation of an optimized plan for the Siheung district.

Prior to the agreement, the two organizations held the 'Technology-Inclusive Urban Strategy Forum Responding to Future Social Changes,' discussing topics such as predicting changes in future urban spatial structures and exploring mutually cooperative roles between the public and private sectors.

Vice President Lee Sang-wook said, "It is time to focus on creating sustainable future urban spaces that can address various urban issues such as transportation and environment, as well as social changes like aging and low birth rates. We will take the lead in creating smart cities where anyone living in the city can easily use future advanced technologies in daily life by cooperating with Hyundai Motor Group, which possesses advanced technologies in the mobility sector."

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