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K-city Network: Global Cooperation Program :2024began selecting eight projects to provide four billion won funding.</span></span>

On January 30, the Ministry of Land, Infrastructure and Transport (MOLIT) of Korea began the application process for the K-city Network: Global Cooperation Program2024 (K-city Network Program 2024).

 

Since its creation in 2020, the K-city Network Program has provided technical consulting in overseas smart city projects or supported demonstration of Korea’s smart solutions in foreign cities. From 2020 to 2023, the K-city Network Program implemented 41 projects in 23 countries. For the 2024 Program, eight projects will receive funding worth four billion won under the “Smart City Planning” or the “Smart Solution Demonstration” categories.

 

In the Smart City Planning, two changes were introduced after the decisions made by the National Smart City Committee last October. First, its application will be open all year round. Second, a preliminary consulting process will screen viable projects up for full implementation. Accordingly, two projects applied by this April that passed the preliminary consulting evaluation will be granted with 20 million to 11 million won each for smart city planning (e.g. master plan, feasibility study, etc.) or smart solution development.

 

As for the Smart Solution Demonstration, its primary purpose is to promote exporting of Korea’s smart solutions that are currently available in its domestic market by funding their pilot installment and operation in foreign cities. To support such cross-validation by Korean solution companies and help them expand abroad, the 2024 Program will increase the number of projects eligible for the Program grants to six. Funding per project will range from 200 million to 400 million won.

 

Application for the K-city Network 2024 Program began on January 30. For the Smart City Planning, the Korea Overseas Infrastructure and Urban Development Corporation (KIND) will review the projects applied by this April(Applications that arrive later will be included in the 2025 candidate project pool), carry out preliminary consulting for a select few projects, and announce the 2024 Program winners in June. As for the Smart Solution Demonstration, application deadline is March 19 and the Korea Agency for Infrastructure Technology Advancement (KAIA) will announce the application result in April. Further information about the K-city Network 2024 can be found at the official websites of MOLIT (www.molit.go.kr) and the Smart City Korea (www.smartciy.go.kr) from January 30.

 

Sang-joo Lee, MOLIT Director General for Urban Policy says, “The K-city Network has been the main conduit for promoting and sharing the Korean smart city model and development experiences overseas. It also gave Korean smart city companies, in particular the SMEs, a key lunch pad for venturing outside Korea.” He also added, “The two changes we introduced to the Program this year- the all-year application and the preliminary consulting process-will help us discover projects with higher chances of success. We will also increase support for the Smart Solution Demonstration so that new overseas markets as well as new business models can be developed for the Korean smart solution providers.”

 

K-city Network: Global Cooperation Program

(Concept) A smart city cooperation program overseen by the Ministry of Land, Infrastructure and Transport (MOLIT) of Korea under which MOLIT collaborates with foreign city/national governments in the latter’s smart city project discovery or development and shares Korea’s smart city model.

 

(Project categories)

 

1. Smart City Planning: MOLIT provides technical consulting for the smart city project planning/evaluation (e.g. master plan, pre-feasibility study, feasibility study, etc.) or for the smart solution development that serves key urban functions/services (e.g. transport, energy safety, etc.).

2. Smart Solution Demonstration: MOLIT provides funding for the cross-validation of Korea’s smart city solutions/technologies in foreign cities.

 

(XNUMX-XNUMX) Since XNUMX, the K-City Network Program has supported XNUMX projects in XNUMX countries.

 

□ Ministry of Land, Infrastructure, and Transport Lee Sang-ju, Urban Policy Directorsilver "K-City NetworkBy sharing Korea's capabilities and experience with overseas cities, Plays a major role in promoting Korea's smart city to the worldI have been doing it, Domestic small and medium-sized businesses Expanding overseasTo role of priming water“I’m doing it,” he said.

 

ㅇ “Starting this year, Advance consulting과 Always accepting applications By implementing the system Improve procedures to identify businesses with high potential for commercializationAnd the solution Overseas verification을 통해 Development and expansion of service profit models for Korean companies“We will actively support it,” he said.

 

Source: Ministry of Land, Infrastructure, and Transport