Stanford University Smart City Institute Opens at Songdo Incheon Global Campus, USA

Panoramic view of Incheon Global Campus in Songdo International City [Photo provided by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] The Smart City Research Institute affiliated with Stanford University in the United States opened on the 3rd at the Incheon Global Campus in Songdo International City, Incheon.

According to the Incheon Free Economic Zone Authority, the institute will have about 10 master's and doctoral-level researchers specializing in smart cities residing on-site to conduct research for the efficient application of smart city technologies.

The specific research areas include smart financing for smart cities, sustainable urban systems, smart city entrepreneurship, sustainable urban development, and competitiveness.

In the long term, the institute plans to conduct research on smart city fintech (a compound of Finance and Technology, referring to changes in financial services and industries through the convergence of finance and information technology) and to establish industry-academia-research collaboration programs related to smart cities.

The Incheon Free Economic Zone Authority expects the institute to establish itself as a hub for cooperation connecting Silicon Valley and Korea, as well as an anchor research facility within the Free Economic Zone.

Additionally, through joint research and industry-academia-research cooperation with global companies such as GS Caltex, Hyundai Motor Company, and Google, it is expected to contribute to building an innovation ecosystem in the Incheon Free Economic Zone and to introducing cooperation models with companies and research institutes in Silicon Valley.

In particular, it is anticipated to assist in the commercialization and global dissemination of Korea's smart city research models, joint research such as complementary Korea-US studies, and the creation of research service opportunities linked to Korean-style smart city projects.

Stanford University is a leading research university in science and engineering in the United States, ranked 2nd in the 2021 global comprehensive university rankings selected by world university ranking organizations.

The university is also famous for producing founders of prominent information and communication technology (IT) companies such as Google, Yahoo, and HP. Notable Korean alumni include former Minister of Information and Communication Jin Daeje, LG Electronics Chairman Koo Kwang-mo, GS Caltex President Heo Se-hong, and Seoul National University President Oh Se-jung.

At the opening ceremony, Mayor Park Namchun stated, "With the Stanford Research Institute opening in Songdo International City, Korea's first smart city and innovation city, we expect synergies across various fields."

The Incheon Global Campus is Korea's first educational model where competitive departments and research institutes from foreign universities gather to form a comprehensive university structure.