Showcasing Korea's Smart City Technologies
The Ministry of Land, Infrastructure and Transport (MOLIT) announced on Oct. 9 that it successfully arranged deals worth 77.5 billion won (US$68.1 million) through the Second World Smart City Week (WSCW), which showcased Korea's smart city technologies.
The convention is the largest of its kind in the Asia Pacific region. This year's event attracted around 20,000 visitors from 60 countries. Under the theme "Smart City: For better and happy life," it took place around the nation, including Seoul, for three days from Sept. 18 to 20.
The MOLIT said that it promoted South Korea’s future smart city strategy and technologies and helped domestic small and mid-size companies and startups with excellent smart city technologies seize new business opportunities in the global market.
This year, a total of 250 companies operated 947 booths in eight areas, including the South Korean pavilion, local cities’ exhibitions, foreign exhibition, domestic firms’ exhibition and business fair hall, and a total of 16,000 people visited the event.
Foreign buyers showed interest in smart city technologies of South Korean small and mid-size firms. They had one-on-one sessions with Korean exporters at the convention. The ministry said export negotiations reached 460 billion won (US$404.22 million) and 77.5 billion won (US$68.1 million) worth of export contracts, including memorandums of understanding, were signed.
Investor relations (IR) meetings were also held to help domestic small and mid-size firms and startups attract direct investments. The minstry said domestic firms receive a total of 17.1 billion won (US$15.03 million) worth of letter of intent.