The Mumbai Metropolitan Region Development Authority (MMRDA) has strengthened its strategic partnership with the Republic of Korea in a major step to transform Mumbai into a smart city that is compared to others across the world. A high-level Korean group, including of government representatives, business executives, academics, and urban planners, visited to commemorate this restored relationship and accelerate the Mumbai 3.0 vision. MMRDA Metropolitan Commissioner Dr. Sanjay Mukherjee led the discussion, which was held at the Jio World Centre on the fringes of the India Global Forum 2025.
The visit builds upon the Memorandum of Understanding signed last year between MMRDA and the World Smart Cities Forum (WSCF) at the World Economic Forum in Davos. This MoU inducted Mumbai into the prestigious Global Twin Cities Platform, opening the gateway for replicating global best practices and transformative urban models. One of the highlights of the ongoing cooperation is the replication of the Incheon Free Economic Zone’s (IFEZ) success—transforming into a $100 billion tech-driven urban economy—as a benchmark for Mumbai’s evolution.
The Korean delegation featured key dignitaries including Sang-ho Lee, Director of IFEZ; Byeong-il Woo, Director of KOTRA Mumbai; James Jung-Beck Kim, Policy Special Advisor at IFEZ; Dr Young-sup Joo, Distinguished Professor at Seoul National University and former Korean Minister of SMEs and Startups; Jaewon Peter Chun, Chairman of WSCF; and Grant Guk-hwan Cho, Vice Chairman of Kanavi Mobility and former Samsung Electronics Executive Director.
Discussions revolved around enhancing cooperation in smart city innovation, infrastructure modernisation, green mobility, fintech innovation, and foreign direct investment (FDI). Korea’s proven expertise in artificial intelligence-based urban management, sustainable housing, and smart mobility systems emerged as key pillars of knowledge exchange.
The delegation and MMRDA also deliberated on upcoming mega-projects envisioned under the Mumbai 3.0 framework, which includes smart transit-oriented development zones, integrated mixed-use townships, and next-gen technology parks. Investment opportunities were identified in areas such as industrial corridors, logistics parks, data centres, fintech incubation hubs, and large-scale affordable housing initiatives.
Launching an urban innovation exchange program within WSCF’s Twin Cities framework is a key part of the collaboration. This will involve collaborative pilot projects, capacity-building initiatives, and sustainability benchmarking between urban areas in Korea and Mumbai.
Dr Mukherjee underlined the transformative potential of the collaboration, stating, “Mumbai is poised for its next transformation as a global urban hub – Mumbai 3.0. The collaboration with IFEZ, KOTRA, and WSCF offers us access to world-class expertise in smart governance, high-tech infrastructure, and global investment ecosystems. This partnership will help catalyse inclusive growth, create high-value jobs, and elevate the Mumbai Metropolitan Region’s competitiveness on the global stage.”
Source: Mid-Day
