The Development of Smart Cities and the Korean Smart City Model

Sungkim Kim ()
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Sungkim Kim: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 18-7, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: Trends in global population growth and urban migration have led to a bevy of problems in modern cities, including overpopulation, crime, and pollution. As technologies of the 4th industrial revolution are developed and disseminated, several countries are applying new information and communication technologies (ICT) into cities, innovating old infrastructure into smart cities. The definition of smart city varies from country to country, but it is commonly defined as a city that applies ICT to enhance competitiveness, sustainability and quality of life in a city. Smart cities often have different priorities depending on a country’s individual circumstances. These can include boosting energy efficiency, enhancing competitiveness, developing innovation technology, promoting open data solutions, and encouraging citizen participation. Advanced economies such as the U.S. and Europe have thus far led the development of smart cities, but developing countries such as China and India are beginning to invest in the trend. The major companies related to smart cities are IT firms such as IBM and Cisco, but as smart cities require a wide range of development in divergent fields, several companies with different core competencies form an organizational patchwork to create synergies and new value. Through this paper, we will study the history and definitions of smart cities. Next, we will explore the technological trends of smart cities and identify several examples from various countries. Finally, we will examine the current state of smart city development in Korea and related issues, and how to improve the situation. The ultimate goal of this paper is to find an appropriate model for Korean smart cities and suggest policy implications to aid in the development of smart cities.

Keywords: smart cities; urban infrastructure; digital infrastructure; urban development; urban design; urbanism; transportation infrastructure; transit infrastructure; smart transit; smart transportation; Internet of Things; IoT; edge computing; urban sustainability; Korea (search for similar items in EconPapers)
JEL-codes: O18 O38 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2018-04-30
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