Oman has signed a memorandum of understanding (MoU) with South Korea to develop its first smart city. According to a report by the Oman Daily Observer, the smart city will take shape in the Special Economic Zone (SEZ) in Duqm.
As part of the deal, South Korean entities will begin a comprehensive study with the focus on exploring how smart city principals can be developed in Duqm. The report stated that South Korea is credited with developing the world’s first smart city, the Songdo International Business District, which costs over $40bn and will feature more than 100 buildings, once it is complete.
The MoU was signed on July 25 during the Oman-Korea Business Forum, which saw attendance from senior Korean government officials and Prime Minister Lee Nak-Yon. The Oman delegation was led by Dr Ali bin Masoud Al Sunaidy, Minister of Commerce and Industry, and Dr Mohammed bin Hamed al Rumhy, Minister of Oil and Gas.
Saleh bin Hamoud al Hasani, director general of investors services, at the Special Economic Zone Authority of Duqm (SEZAD), said that the MoU is the first step in the move towards developing the smart city concept in Duqm.