South Korea will use cutting-edge information and automation technologies to help build a highly efficient and eco-friendly city in Cambodia, after Asia's fourth-largest economy selected "smart" cities as one of its next growth engines.
The Ministry of Land, Infrastructure and Transportation and its Cambodian counterpart will sign a memorandum of understanding Tuesday to develop a smart city in Sihanoukville province.
A smart city refers to a highly efficient and eco-friendly city equipped with a seamless infrastructure involving roads, power, water, and environment and security systems based on information and communication technology and automation.
South Korea's state-run Korea Land and Housing Corp. (LH) will also support Cambodia's public housing project aimed at offering affordable houses for low-income earners. A pilot program will be launched in Phnom Penh in August 2017.
As next growth engines, South Korea last week promised to spend nearly two billion US dollars in state and private funding by 2026 on nurturing nine strategic sectors including smart cities, artificial intelligence, self-driving cars and virtual reality.
In May, South Korea and Kuwait agreed to cooperate on the development of a smart city in the Middle Eastern country that would house 40,000 homes as well as industrial and commercial facilities.
Aju News Lim Chang-won = firstname.lastname@example.org
© Aju Business Daily & www.ajunews.com Copyright: All materials on this site may not be reproduced, distributed, transmitted, displayed, published or broadcast without the authorization from the Aju News Corporation.