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HYUNDAI HT Co., Ltd., a smart home company, announced on July, 12th that it has signed a strategic business agreement with Korean IT company; MEGAZONE and WISENUT and Noble Vietnam, a Vietnamese real estate developer, to build a smart city in Hanoi, Vietnam.
The strategic alliance included comprehensive cooperation between the companies to establish and implement a "private-led urban development plan" promoted to solve Hanoi's urban environment problems.
First of all, they’re planning to collaborate on pushing for a 1,200-generation "smart residential and commercial complex construction pilot project" scheduled to start at the end of this year, and to come up with a "new town master plan" for the northern Red River area of Hanoi which is representative underdeveloped area.
In particular, HYUNDAI HT Co., Ltd. is planning to propose and supply the smart home system and HT Beyond's community solution to the "Korean version Smart City" scheduled to be built in the northern new city of the Red River.
In addition, MEGAZONE is going to develop data platforms and architectures, and WISENUT is going to develop artificial intelligence-based urban data analysis and interactive software, respectively.Noble Vietnam official said, "The northern city of Hanoi is a nationally significant development right comparable to Seoul's development of the Gangnam area in the 1970s," and added, "The agreement with Korean companies including HYUNDAI HT Co., Ltd. is expected to spread an upgraded residential culture in Vietnam with Korea's excellent smart city technology and experience and be an exemplary example of private cooperation between Korea and Vietnam.”
Lee Gun Koo, CEO of HYUNDAI HT Co., Ltd., said, "Vietnam is a country where urban development based on smart city construction is actively promoted by the private sector, and related markets are expected to continue to expand." and added, "With this strategic cooperation with Vietnamese local company to build smart cities, we will be able to gain an advantage in the Vietnamese smart home market."