KOTRA Holds 'Smart City Inside China' in Wuhan, China

[Asia Economy Reporter Jeong Hyunjin] KOTRA announced on the 27th that it held the 'Smart City Inside China' event in Wuhan, Hubei Province, China, in collaboration with the Ministry of Land, Infrastructure and Transport. This event, jointly promoted with the Hubei Provincial Government, consisted of a Korea-China smart city cooperation seminar and one-on-one consultations between companies from both countries.

KOTRA explained that the event was planned to proactively respond to the increasing demand for smart city business centered in inland China. At the seminar held in the morning, smart city officials from Korea and China served as speakers and presented on topics such as △ the current status of smart city construction in Hubei Province, China △ the status and achievements of smart cities in Korea. About 100 businesspeople from both countries participated to share the latest trends in smart cities and explore cooperation measures.

Chen Junyuan, Director of the Hubei Belt and Road Research Institute, who spoke at the seminar, said, "Recently, Wuhan City is accelerating its digital urbanization efforts," adding, "There is a concentration of smart city infrastructure construction projects in Hubei Province, which will present opportunities for Korean companies related to this."

The one-on-one video consultation sessions, held over four days starting from this day, involve 35 Chinese companies in smart city-related fields such as transportation, environment, platforms, information security, and home appliances, along with 15 domestic small and medium-sized enterprises and mid-sized companies.

Kim Sangmuk, Head of KOTRA's Innovation Growth Division, said, "According to the Chinese government's 'dual circulation policy,' the demand for smart city-related business in inland cities will further expand," and added, "We will promote various support projects to help our companies enter the Chinese smart city market."