March 29, 2010 22:00 ET

Incheon Metropolitan City and Cisco in Strategic Collaboration to Accelerate the Future of City

Cisco Global Center for Smart+Connected Communities to Serve as a Springboard for Network-Enabled Services and Solutions in Incheon

INCHEON, KOREA--(Marketwire - March 29, 2010) -  Incheon Metropolitan City and Cisco (NASDAQ: CSCO) today announced that they will collaborate closely in building Incheon Free Economic Zone (IFEZ) into a high-tech, globally competitive and environmentally sustainable smart connected city, and in supporting continued innovation in Korea.

To support IFEZ's transformation into a smart connected city of the future and help IFEZ become a leading regional center for innovation, healthcare, education and society, Cisco is engaging in a strategic collaboration with IFEZ to help support public smart city business as well as private information and communications technology (ICT) business models, in collaboration with the Incheon Urban Development Corporation (IUDC). The strategic collaboration also aims to create a video-enabled city platform, placing energy efficiency at the heart of a green living environment in the city by using networked ICT solutions as the platform for delivering services to citizens and for managing resources more effectively.

Cisco will also establish the Cisco Global Center for Smart+Connected Communities in Songdo, which will serve as a headquarter location for this global initiative, based on MoUs signed between Incheon and Cisco in February 2009 and April 2009. The Cisco Global Center will be located within Songdo's signature commercial building, the 1.6 million square foot, 65-story Northeast Asia Trade Tower (NEATT) which will stand as Korea's tallest building when completed in 2010.

Highlights/Key Facts

  • Cisco will provide support in terms of technology development, nurturing of venture companies and to develop globally replicable Smart+Connected Community business models and technologies through the establishment of the Cisco Global Center for Smart+Connected Communities in Songdo, Incheon.
  • The strategic collaboration with IFEZ aims to take advantage of pervasive networking technologies to provide unprecedented solutions for citizens to take advantage of a technology-enabled lifestyle across areas encompassing public services, commerce, healthcare, education and safety for integrated city management. The vision aims to help provide better quality of life for citizens, through video enabled homes, more efficient energy usage and support for green based economic development.
  • A goal of the strategic collaboration will be to provide practical services to implement public Smart+Connected Community business models and to help 10 Public-Private Collaborative Companies which have already been established in Songdo, Yeongjong and Cheongna to help provide support for their ICT-based businesses and management. 
  • Cisco will develop and provide new service delivery models that can be implemented in IFEZ through the Cisco Global Center for Smart+Connected Communities. From this technology and innovation hub, Cisco will work with local and overseas business partners to develop and build new solutions that are especially focused around public services and green-based technology for Cisco's Smart+Connected Communities initiatives worldwide.
  • Cisco will also use the services it defines to help the development of new network-enabled cities in other countries as well. The Cisco Global Center for Smart+Connected Communities also will feature a training facility and briefing center that will utilize and showcase these advanced solutions.
  • The Cisco Global Center for Smart+Connected Communities is expected to have a staff of approximately 120 employees focusing on the development of Smart+Connected Communities business models by 2011.
  • Today's announcement of the Cisco Global Center in Incheon represents a key milestone as part of Cisco's previously announced long term commitment to Korea, outlined by Cisco Chairman and CEO John Chambers during his visit to the country in April 2009. During that visit, Mr. Chambers outlined a multi-year US$2 billion commitment to developing Cisco's operations in Korea.
  • The Cisco Smart+Connected Communities initiative is designed to provide cities and communities with smart and connected solutions for utilities, safety and security, connected real estate, transportation, healthcare, learning, sports venues, and government services. Cisco's community connect platform forms a foundation for helping deliver these services to citizens.
  • By providing a network-enabled blueprint for successful 'smart' communities of the future, Smart+Connected Communities solutions help transform physical communities into connected communities that can help realize sustainable economic growth and GDP, enable environmental sustainability through resource management and operational efficiencies, and enhance quality of life for residents.

Supporting Quotes

  • Incheon Metropolitan City Mayor Ahn Sang Soo:
    "Cisco's investment in the Cisco Global Center and the strategic collaboration with Incheon Metropolitan City will provide an opportunity for IFEZ to transform into a representative high-tech city in Northeast Asia. The newly created u-city is expected to provide optimized services for citizens to better their life."
  • John Chambers, chairman and CEO of Cisco:
    "Cisco is committed to helping transform Incheon into an advanced urban center and creating ongoing economic opportunity in the region. With the establishment of the Global Center for Smart+Connected Communities and our strategic collaboration with the Incheon Free Economic Zone, Cisco is aiming to accelerate the city's effort to provide increased quality of life for citizens, with the network as the platform for sustainable development. We believe countries, cities, communities, and individual lives can be transformed by providing access to socially, economically and environmentally sustainable solutions."
  • Stan Gale, chairman and CEO, Gale International:
    "Cisco's commitment to Incheon, the IFEZ and Greater Songdo brings investment, employment and opportunity to the region. Gale International is also proud to be collaborating with Cisco to transform Songdo IBD into the model for smart, sustainable city-scale development in Korea and the world over. With the Cisco Global Center for Smart+Connected Communities headquartered in the NEATT tower, we are confident the technologies developed and implemented in Songdo IBD will create hundreds of jobs, greatly enhance the lives of our citizens and provide benefit to the Korean economy."
  • Eo Yoon-duk, president of the Incheon Urban Development Corporation:
    "Today's announcement deepens the existing collaboration between Cisco and Incheon Metroplitan City. We are expecting that Cisco's advanced IT technological prowess will help realize Incheon's vision of building a Smart City; and certainly contribute a specific portion to achieving our key goals of developing Incheon into the world-class city by implementing IT in city development and housing construction."

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