Dubai Holding has unveiled a SmartCity concept project in South Korea on October 6, 2016. The project covers an area of 51 million sq ft and is located between Seoul and Incheon.
“This initiative between the UAE and South Korea will contribute positively to their economies, and will play a vital role in furthering friendly relations between both countries. Transferring the SmartCity concept to South Korea is a significant step towards reinforcing the UAE’s leadership in urban development innovation and its commitment to knowledge transfer and experience exchange,” says Mohammed Abdullah Al Gergawi, Minister of Cabinet Affairs and The Future, and chairman of Dubai Holding.
The economic development of both Dubai and South Korea is based on modern technological capabilities and progressive infrastructure. The total value of trade between the UAE and South Korea has reached AED 122.7 billion from 2010 to 2015.
“SmartCity Korea marks a milestone in Dubai Holding’s efforts to build smart cities which began with the establishment of Dubai Internet City in 1999,” official UAE news agency WAM reported. The project is the pinnacle of the collaborative work between Dubai, the South Korean government, and regional investors. In February 2016, Dubai Holding inaugurated phase 1 of SmartCity Kochi’s operation in Kerala, India, and also opened SmartCity Malta in 2014.
Established in 2004, Dubai Holding is a government-owned entity engaged in developing and managing a portfolio of enterprises. The company operates in 24 countries and employs over 22,000 people.