KT has partnered with Sri Lanka's business development company Moeul to cooperate in the project to build Sri Lanka Smart City, the company said on Oct. 30.
The two companies plan to develop a new science and technology city based on artificial intelligence, the Internet of Things and big data near the capital Colombo, and develop the area around the underdeveloped international airport into residential and commercial areas.
This was in line with the "Mid-to-long-term development plan for the western region," a wide-area development project that develops functional new towns such as science and technology, airport cities, transportation, tourism, and logistics in nearby areas, including Colombo.
The two companies decided to take the lead in exchange between Sri Lanka and domestic companies.
In particular, the two companies plan to cooperate in building a smart new city leading Sri Lanka by combining KT's smart city technologies such as high-tech intelligent mobility services, AI-based data hubs and drones, renewable energy to increase self-reliance on energy, and smart energy platforms based on IoT and big data and Moeul’s technology.
Park Yoon-young, CEO of KT's corporate division, said, "With the signing of the MOU, we will solidify the foundation for Korea's ICT advancement in Sri Lanka. We will strengthen Korea's positive image in Sri Lanka with the Korean Wave and the excellence of KT's smart city technology."