WeGO to leverage its network for KIND smart city project implementation opportunities

December 14, 2021

SEOUL – This afternoon, WeGO’s Secretary General Jung Sook Park met with Kang Hoon Lee, newly appointed President and CEO of Korea Overseas Infrastructure & Urban Development Corporation (KIND), to discuss potential areas for collaboration in 2022, mainly related to smart city project implementation.

President Lee introduced KIND’s main achievements and core projects, and explained that the organization is particularly focused on projects related to infrastructure, economic innovation, and smart city, among others.

Regarding the K-City Network: Smart City Planning Program, KIND requested WeGO’s support in identifying regions and local governments with smart city masterplans to conduct feasibility studies and pilot projects in. KIND also expressed their willingness to cooperate with WeGO in conducting smart city project implementation aside from the K-City Network, and finding suitable recipients of brownfield investments*. 

WeGO agreed to leverage its network and relationship with active members to identify projects in member cities that could benefit from KIND’s above-mentioned activities. 

Further discussions between the two organizations will be conducted, and potential joint synergies are expected to be presented at WeGO’s upcoming Workplan Seminar 2022.

Established in 2018, KIND was established by the South Korean government to proactively support global public-private-partnership (PPP) activities. The organization primarily supports Korean companies for project planning, feasibility studies, project information and project bankability.

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*A brownfield (also known as “brown-field”) investment is when a company or government entity purchases or leases existing production facilities to launch a new production activity. This is one strategy used in foreign direct investment, according to Investopedia.