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Take advantage of international experience in building a smart city

Take advantage of international experience in building a smart city

Hanoi, October 3, 2019

According to Mr. Ted Kim, CEO of KIMC Group, Korea's leading experiences, and technologies will help Vietnam solve the problem of building a smart city.

Mr. Ted Kim, CEO of KIMC Group

Attending the International Industry 4.0 Summit 2019 in Hanoi, what will Korean delegates and smart city construction experts share with Vietnam? 

South Korea has a rapid transition, a country with rapid urbanization, with more than 90% of South Koreans living in urban areas.

In December 2017, South Korea announced the "Smart City" era, which is an important part of its national development policy. Smart City was selected as one of the 8 Innovative Growth Initiatives (IGI) in the 4.0 revolution era. Accordingly, local governments focus on developing smart cities, and institutes and research units, experimenting with research efforts put forth technologies and 4.0 systems to achieve the goal of developing a smart city.

Coming to this Forum, we would like to introduce Korea's leading smart city development technologies to Vietnam. Most of these technologies are developed by research institutes supported by the Korean government, including the Korea Institute of Civil Engineering and Building Technology (KICT), the Korea Advanced Institute of Science and Technology (KAIST), and the Korean Intellectual Property Service Center, etc.

In addition, the development of Korea's smart city also serves as a consulting service for Ducogen's educational digitization services. Specifically, Ducogen's "Wiseflow" program provides students with a 100% digitalized education system and is suitable for the teaching model based on test and feedback criteria with students. It is currently accepted by more than 40% of schools in Northern Europe.

To conclude, we want to share with Vietnam not only about technology but also the vision and philosophy of smart city development.

How do you evaluate the potential of developing smart cities in Vietnam?

Before talking about the future of smart city development in Vietnam, I would like to mention some international ways of doing this.

In 1980, China had an urbanization rate lower than the world average, at only 20.1%, but by 2018, its urbanization rate nearly tripled, to 59, 6%. Each year, the Chinese government helps move 10-14 million people from rural and suburban areas to the central areas.

As for Korea, the urbanization rate reaches over 90% and is speeding up the construction of smart cities nationwide.

According to the World Bank, in 2018, Vietnam's urbanization rate reached about 35%, lower than the world average (54%), and even lower than the ASEAN average (46%). In the near future, nearly 1% of Vietnamese people will move to live in the city area. A high rate of urbanization may cause undesirable effects, but this is an inevitable trend in Vietnam.

From the practice of Korea and China, I think that Vietnam has great potential for developing smart cities. Vietnam is smart enough to screen, learn good experiences, and remove gaps from smart city development practices in Korea and China.

What does the Vietnamese government need to do to develop a smart city?

I believe that without the strong guidance of the central government, any smart city project cannot be implemented, because the development of a smart city needs to mobilize lots of resources and strong investment, especially specific policies and regulations, technology development, and the active participation of the private sector.

In other words, developing a smart city on a national scale means touching "every corner" of people's lives. Therefore, the Government of Vietnam should pay attention to building a long-term, comprehensive smart city development policy and support the implementation as well as have mechanisms to encourage domestic and foreign investors.

Besides, it is necessary to develop a regular monitoring system to receive policy feedback related to smart city development. Any smart city needs to develop its infrastructure, especially the public transport system suitable to its situation. No government can guarantee the budget of all smart city projects. Therefore, the Government of Vietnam should set appropriate incentives and policies in the form of BOT to mobilize the participation of private or foreign investors.

How does KIMC plan to participate in building a smart city in Vietnam?

KIMC is the organizer of the Korean smart city stall at Industry 4.0 Summit 2019, we will share lessons with Vietnam.

As the No. 1 shareholder participating in the establishment of Campus K - a workspace sharing model based in My Dinh (Hanoi) in November 2018, KIMC is supporting small and medium enterprises and Korean startups "settled" and developed well in the Vietnamese market.

In addition to participating in this forum, on behalf of the Korean Fintech Center - an agency of the Korean Government tasked with promoting the Fintech industry, KIMC is planning to organize an interesting event called "Fintech Demo Day” this October. In November, KIMC will coordinate with IEC - the organizer of Industry 4.0 Summit 2019, organize the Internet of Things (IoT) and cybersecurity exhibition "Korea Cyber Security & IoT Pavilion" in Ho Chi Minh City.

We strongly believe that these initiatives will contribute to the overall development of the innovation economy that the Vietnamese Government is promoting.

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