Public contest from 24 FEB to introduce innovative technologies
to pilot smart cities in South Korea
The Ministry of Land, Infrastructure and Transport (MOLIT, Minister Noh Hyeong Ouk) announced the opening of a public contest on 24 FEB to incorporate innovative technologies developed by small and medium enterprises(SMEs) into national pilot smart cities (Sejong, Busan).
This open contest was created to strengthen the industrial ecosystem of smart cities by identifying and promoting small and medium enterprises (SMEs) with innovative technologies that may be implemented in pilot smart cities in South Korea.
The contest is divided into five categories and is expected to select a maximum of 14 projects and support demonstrations of each task. A total of 3.79 billion won is expected to be provided to the selected projects with a maximum of 300 million won for each project.
Separate participation requirements* have been established for large corporations in this public contest to ensure that SMEs can coexist within the industrial ecosystem of the smart cities in South Korea, and an online briefing session is expected to be organized to support the participating companies.
* Large corporations are allowed to participate only in the form of a consortium (with a stake of less than 30%)
The timeframe of the public contest is set to 30 days from the opening date to allow SMEs considerable time to prepare for their participation. The selection will be disclosed in early April, and the project will be completed by November.
MOLIT Smart City Team Chief Huh Na-yun said, "I expect SMEs to validate their innovative technologies through the pilot projects within smart cities in South Korea. I also hope this public contest can provide opportunities for the industrial ecosystem to grow for a better future of smart cities."
Please refer to the attached PDF.