On Thursday, representatives from Dubai Holding launched the Smart City Korea project in Seoul, with the aim of developing the project on 51 million square feet between Seoul and Incheon, according to a company statement.

Mohammed Abdullah Al Gergawi, Minister of Cabinet Affairs and Chairman of Dubai Holding, praised the project as “the latest addition to Dubai Holding’s SmartCity Network.“ He added that it would contribute positively to the economics of South Korea and the region in general, as well as deepening the friendly relations between the two countries.

Dubai Holding has already developed projects belonging to their SmartCity franchise in Malta in 2014, and in February inaugurated phase one of SmartCity Kochi in Kerala, India.

The SmartCity concept dates back to the establishment of Dubai Internet City in 1999, aiming “to create a holistic environment that provides a comprehensive living, working and leisure experience supported by the latest urban technologies,“ according to the company statement.

The UAE and South Korea look back on long-standing economic ties with a total trade value of more than $30 billion from 2010 to 2015.