Korea’s Daewoo Engineering & Construction and cloud delivery platform company Bespin Global are partnering to develop an integrated command and control center in Starlake City, an urban complex near West Lake in Hanoi.
To start, Bespin Global Vietnam and THT Development Co., a local subsidiary of Daewoo E&C, on Monday signed a deal for the establishment of their Smart City Operation Joint Venture for the mission.
Key stakeholders who joined the signing included Seung Han, senior vice president of Daewoo E&C; An Kuk-jin, CEO of THT Development; Hoon Park, Asia and Europe president of Bespin Global; and Bespin Global Vietnam general manager Ted Kim.
The joint venture will be in charge of operating and managing the data-based center named Smart City in Starlake City, Bespin Global announced. It will focus on establishing a decision support system and developing a new business model based on data generated within Starlake City.
"We have taken the first step toward creating a data-based Smart City beyond the Smart City stage that reflects some of the existing element technologies," Seung Han said.
Hoon Park added that the project aims is to operate and manage Smart City data, and help digital native startups and tech companies enter the Smart City data platform and continue to create a convergence business model.
Starlake City is a new city development created by Daewoo E&C. The $2.2 billion project was first proposed in 1996 and is being developed by THT Development. Completion is scheduled for 2024. The Korea Development Bank is the financing source for Daewoo E&C.
Through close collaboration between Hanoi’s administration and Daewoo E&C, Starlake City has been developed as a world-class urban town spanning nearly 187 hectares, connecting with the green space of West Lake and Vo Chi Cong street, a main artery to Noi Bai International Airport.
This eco-friendly town will be fully equipped with multifunctional zones of administration, hospitality, education, finance, commerce and recreation.
A day after the joint venture signing, a Daewoo E&C delegation paid a working visit to Bac Ninh province, a neighbor of Hanoi, seeking business opportunities. Bac Ninh authorities pledged support for the Korean company in its urban development plans.
Earlier this year, Daewoo E&C executives met officials of Hai Duong, also near Hanoi, to discuss developing an integrated township in the province that would include an industrial complex, aviation services, and an international urban area.
Bac Ninh and Hai Duong, together with Hanoi, Hai Phong, Vinh Phuc, Ha Nam, and Thai Nguyen are manufacturing centers in northern Vietnam.