SEOUL, Korea - February 12, 2009 - Cisco and Incheon Metropolitan City in Korea today announced that they have exchanged a memorandum of understanding (MOU) to work for the transformation of the Incheon Free Economic Zone (IFEZ) into a centre of globalisation expertise in Asia Pacific.
Under the memorandum, Cisco will provide its rich experience, expertise and networking technologies for the globalisation of Incheon Metropolitan City. The project will be based on Cisco's leading globalisation projects in Singapore, India, Malaysia and the Middle East. Cisco and the Incheon Metropolitan City have also agreed to launch a joint task force to investigate the legal and technical aspects of this collaboration.
A key element of the project will be the development of advanced "u-City" technologies, designed to create a unified, common Internet Protocol (IP) network platform for the project. In order to carry out this initiative, a Cisco u-City Global Centre will be established in Songdo, the waterfront of Incheon Metropolitan City. This service centre will also offer comprehensive integrated solutions to help citizens experience a technology-enabled lifestyle in commerce, health care, education and at home.
Cisco has aggressively implemented u-City development projects around the world including the Middle East and Asia, providing a service portfolio based on advanced information and networking technologies. Cisco also launched a Connected Urban Development initiative for a green and environmentally sustainable city with the Clinton Foundation.
Cisco will also help transform IFEZ into a business hub on a global basis by supporting Global City Fair and Festival 2009, and an environmental forum held in Incheon Metropolitan City.
"IFEZ has been working to lay the groundwork to deliver a favorable business environment for global enterprises by 2010," said Sang-Soo Ahn, mayor of Incheon Metropolitan City. "The collaboration with Cisco will provide an opportunity for IFEZ to transform into a global strategic centre for 21st-century urban development."
Wim Elfrink, Cisco's chief globalisation officer, said: "Our collaboration is further evidence that the network is truly the platform for planning and creating greener, more productive and liveable cities in the 21st century. We look forward to working on a collaborative basis to transform the IFEZ into a global business hub in Asia Pacific."
Beginning with this initiative, the two parties will continue to cooperate in the development of new service models as well as pilot projects.
- Video from Sang-Soo Ahn, mayor or Incheon Metropolitan City, Korea on signing the MOU with Cisco Systems, Inc.
IFEZ, which was designated as the Korea's first Free Economic Zone by the Government in August 2003, pursues diverse projects to develop Incheon as an international city that fully supports a wide range of economic activities. IFEZ is securing the foundation to be a leading international city by 2010 under the aim of being the best place for companies not only in Korea but also in the world as well as eco-friendly city for its residents.