Korean companies eyeing smart technologies market in Kenya
Kleos Flooring East Africa managing director Maureen Wambui (left) after her company signed an MoU with South Korean firm SJ Chemical during an event that was witnessed by Korea Trade Development Agency (Kotra) Managing Director Eom Ikhyun (center).
What you need to know:
- The Korean government has been cooperating with the Kenyan government in digital and ICT since 2008.
- Korean companies seeking to strengthen business ties with local firms to bolster Kenya's aspirations to become regional digital hub.
Several Korean firms have expressed interest in venturing into the Kenyan market to provide smart technologies as well as partnering with Kenyan companies.
Already, three Korean companies have signed MoUs with Kenyan companies as Kenya gears to step up its smart city initiative.
This is according to Korea Trade Development Agency (Kotra) Managing Director Eom Ikhyun.
Korea GT has signed an MoU with SONVAR Chemicals, POQUTEC has entered a deal with Regal Equipment with SJ Chemical has signed an MoU with two Kenyan companies - Panafrican Business Enterprises (PABE) and Kleos Flooring.
“The companies have brought forth technologies that are the building blocks of the smart, sustainable cities of tomorrow,” said Mr Eom during the unveiling of the Korean Pavilion at the 2023 BIG 5 Construction Roadshow in Kenya.
Strengthen business ties
The companies are among 15 others which are showcasing at the Korean Pavilion, seeking to strengthen business ties with local firms to bolster Kenya's aspirations to become the digital and ICT hub of East Africa.
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.
Smart city cooperation
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 cooperating with the Kenyan government in digital and ICT since 2008 and is focusing its efforts on developing the Konza Development Authority and Konza Smart City, towards Kenya’s pursuit to become a digital and ICT center in East Africa.
“The Korean government is 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 center. In September, it successfully completed the second phase of the EIPP project,” South Korean Embassy, Ambassador YEO Sungjun said.
The ambassador said the Kenya Institute of Science and Technology (Kenya-AIST) so-called 'Kenya KAIST' project, which began with EDCF funds from the Export-Import Bank of Korea, is set to be completed in March 2024.
