IFEZ-DQ Institute Signs Agreement to Build Human-centered Smart City

IFEZ to Become Global Standard in the Fourth Industrial Revolution


IFEZ Smart City, which is garnering worldwide attention, and international think tank DQ Institute have joined forces to create a citizen- and human-centered smart city in the era of the Fourth Industrial Revolution. IFEZ and DQ Institute have signed a mutual cooperation agreement to establish the DQ headquarters in Songdo International City to develop and implement capacity building programs for digital citizens and businesses of the future, and to lay the foundations for IFEZ to boost the DQ (Digital Intelligence Quotient) industry.
This agreement stems from the mutual understanding of IFEZ and DQ Institute regarding the reality in which central and local governments allocate extensive budgets into building smart cities on a yearly basis, yet there remains a lack of investment in capacity building for citizens to improve digital use and risk management in today’s cyber world.
IFEZ has been actively supporting R&D for the establishment of the DQ global standards, which are currently underway at the Institute of Electrical and Electronics Engineers (IEEE-SA), in order to create a human-centered smart city. This will enable more practical and flexible global standards for both citizens and businesses.


DQ Institute is a think tank that establishes international standards thereof under the leadership of Dr. Yu-hyun Park, the founder of the concept of DQ, and it has taken the lead in improving children’s digital literacy and public awareness of DQ. Park received her doctoral decree in Biostatistics from Harvard University.
IFEZ Commissioner said, “Today’s world is becoming more and more challenging due to new emerging threats, such as cyber violence and invasion of online privacy. To address these matters, we need to realize the citizen- and human-centered smart city. The IFEZ, in collaboration with DQ Institute, will build the zone into a smart city centered on people and citizens.”

IFEZ-ICBC Seoul Branch Signs Investment Cooperation Agreement

On March 21, IFEZ signed an investment cooperation agreement with Industrial and Commercial Bank of China (ICBC) Seoul Branch in the presence of IFEZ Commissioner and ICBC Seoul Branch Managing Director Niu JianJun (牛建军). This agreement was conceived to utilize the network and expertise of ICBC, which ranked first in the banking sector among the Fortune Global 500 companies in 2018, to actively explore investment partners in China and to promote cooperation and mutual development between IFEZ and ICBC.
Under the agreement, IFEZ and ICBC will cooperate in exploring investment companies in China, engaging in investment relations to attract investors, and verifying investor financial information.
IFEZ Commissioner said, “The agreement between the first and best economic free zone in the country and one of the world’s top banks is expected to create synergy in helping IFEZ attract business from Chinese companies.”
ICBC, together with China Construction Bank, Bank of China, and Agricultural Bank of China, are the four largest state-owned commercial banks in China and are known to have the largest assets, achieve the highest profits, and hold the largest deposits in the world. ICBC is one of the greatest global financial
institutions operating 422 overseas branches across 45 countries.


Institute of Electrical and Electronics Engineers-Standards Association
One of the world’s largest professional associations in the fields of electricity and electronics, information technology, and computers, the Institute of Electrical and Electronics Engineers-Standards Association (IEEE-SA) is membered by more than 360,000 experts from 175 countries around the world. The standards developed by IEEE-SA are used as both national and international standards.

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