Last month, Ecube Labs was one of two companies appointed as co-chair of the new ‘Smart City Alliance’ at an inaugural meeting attended by over 110 corporations in Busan, Korea.
The alliance is a consultative group comprised of IT, automobile, construction, energy, healthcare and security corporations and institutions. Its purpose is to develop new business models for building smart cities. The alliance will look to request deregulation measures from the government as well as opportunities to converge various technologies for expanding smart cities.
Member corporations and institutions agreed to cultivate stronger cooperation between private and public sectors to build smart cities that improve the quality of life for residents and solve urbanization problems.
The president of South Korea, Moon Jae-in, took part in a presentation prior to the ceremony and was quoted as saying, “the success of smart city development will help Korea emerge as a leading economy.” President Moon will seek to support greater innovation with the Smart City Regulatory Sandbox, a system that waivers or postpones existing regulations for an interim period upon the launch of a new product or service.
The alliance plans to setup routine technical exchange and cooperation meetings. In the future it plans to review more corporations and research institutes that have signed up and expand the number of participating organizations.