S.Korea's Bespin Global, Daewoo E&C sign smart city deal with Aussie company

South Korea's cloud management company Bespin Global on Wednesday said its subsidiary Bespin Global Vietnam formed a strategic partnership with Daewoo Engineering & Construction Co. (E&C) affiliate THT Development and Australian deep-tech company PI Exchange to jointly develop artificial intelligence (AI) and machine learning capacities for smart city operation and management in Hanoi, Vietnam.

PI Exchange's AI solution can secure a desired prediction value in minutes without the need for separate coding work. It will first be applied to the operation and management of Starlake City, a new town project under development by Daewoo E&C in Hanoi.

The partnership will have PI Exchange install its AI and analysis engine in the smart city's integrated data management platform, which is under joint development by Bespin Global Vietnam and THT Development. The platform will provide AI-based operating and management services to residents and businesses of Starlake City.

Bespin Global Vietnam Country Director Kim Tae-ho said, "Bespin Global and THT Development are pursuing a joint venture for smart city operations," adding, "This means that the era of services from an integrated data management platform based on AI is soon coming not only for smart cities but also for smart factories and industrial complexes."

Write to Hyun-Il Lee at hiuneal@hankyung.com