Head of the Korea Trade Development Agency (KOTRA), Eom Ikhyun has announced that three Korean companies have signed a Memorandum of Understanding (MoU) with Kenyan companies to invest in the countries ongoing technological developments.
The two of the firms including, Korea GT, POQUTEC signed an MoU with SONVAR Chemicals, Regal Equipment respectively, while the third firm SJ Chemical on its part signed a deal with two Kenyan companies Business Enterprises (PABE), and Kleos Flooring.
The three firms are among the fifteen companies showcasing at the Korean Pavilion and seeking to strengthen business ties with Kenyan counterparts.
They have also promised to bolster Kenya’s aspirations to become the digital and ICT hub of East Africa.
“The companies have brought forth technologies that are the building blocks of the smart, sustainable cities of tomorrow,” said Ikhyun.
Ikhyun was speaking during the unveiling of the Korean Pavilion at the 2023 BIG 5 Construction Roadshow in Kenya.
The technologies introduced by Korean companies include smart construction supervision systems, energy management systems, traffic safety systems, and water purification systems that can realize sustainable development in smart city construction projects.
Kenya’s KONZA Technopolis, to which these technologies will be applied, will present the superior standards of smart cities across all African regions.
Some of the other companies showcasing include Hansol Homedeco, Jchem, SP Solled, Raum Architecture, Kevin Lab, Samsung, Kevin Lab, Kumkang Kind, Posco International, Geogrid, Teraenergy, and Wise-Bridge, among others.
The Korean government has been collaborating with the Kenyan government in digital and ICT since 2008.
Korean companies are focusing on the development of the Konza Development Authority and Konza Smart City.
The move is aimed at making Kenya become a digital and ICT centre in East Africa.
The Korean government is also laying the groundwork for Kenya’s Konza Smart City Development project through the Economic Development Experience Sharing Project (KSP) and the Economic Innovation Partnership Program (EIPP) and continues business cooperation by operating a smart city cooperation centre.
“In September, it completed the second phase of the EIPP project,” South Korean Embassy, Ambassador YEO Sungjun said.