Posco Chairman Kwon Oh-joon (center) on Friday is briefed on the smart city project in Kuwait at Posco ICT`s headquarters in Pangyo, Gyeonggi Province.
Posco ICT Co., a key affiliate of South Korea’s largest steelmaker Posco, will partake in the country’s first-ever overseas smart city building project in Kuwait.
The company announced on Sunday that it will design information and communication technology (ICT) infrastructure for the smart city named South Saad Al Abdulla that will be built 18.6 miles (30 kilometers) west of the center of Kuwait.
Korea and Kuwait signed on a memorandum of understanding (MoU) in May last year to cooperate on building the Kuwaiti smart city spanning 40 miles at 18.6 miles west of Kuwait City, capital of Kuwait, at a cost of $4 billion.
Under the deal, a consortium led by Korea Land Housing Corp. (LH) was assigned to draw up a master plan and start design work for construction of the smart city - a city which incorporates the Internet of Things (IoT), big data and artificial intelligence (AI) in urban traffic and energy infrastructure - in Kuwait by June next year.
Since 2015, Posco ICT has been operating a Smart Solution Council (SSC) with Posco, Posco Engineering & Construction Co. (Posco E&C) and Posco Energy Co. to enhance technology and obtain solutions for smart city, smart factory and smart energy.
By Seo Dong-cheol
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