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Korea Innovation 2020: Smart City Financing and PPP

"How can we bring specific tools of private-public partnerships and financing to solve big challenges related to urban cities?" 

KIND is a young government institution set up in 2018 under the Ministry of Land, Infrastructure, and Transport  (MOLIT) in S. Korea. An easy way to understand KIND is to think of it as 'bilateral IFC focussing on greenfield projects' that prom... view more

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Opening Remarks by Veronica Nyhan Jones, Manager of Sustainable Infrastructure Advisory, IFC

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Smart City and Urban Development in Financing by Kwangbok Lee, Director of Smart Infrastructure and Urban Development, KIND, which is a young government institution that promotes private investment by co-investment

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Private Financing and Private Sector Innovation in Urban City Projects by Emmanuel Nyirinkindi, Director, Public-Private Partnerships, IFC

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Q & A: While applying technology in the public sphere, how did S.Korea deal with issues such as hacks, malware, and unauthorized users? Do we need smart cities in developing countries? What can developing countries learn from best practices adopted by S.Korea? Is there space for human rights and quality of life in the smart city dialogue? In financing, what is the role of the government when compared to the private sector? 

About the Presenters

Veronica Nyhan Jones

 Manager of Sustainable Infrastructure Advisory, IFC

Veronica Nyhan Jones is the Manager of Advisory Services for IFC's Infrastructure & Natural Resources Department. Veronica’s team helps companies manage risk via benefit-sharing (i.e, local economic development focused on women and youth), implement collective action (i.e, water stewardship and municipal service delivery), and financially value returns on sustainability.  She spearheads IFC’s flagship Sustainability Exchange, an innovative learning event featuring cutting-edge industry practices from around the globe.  Prior to IFC, Veronica worked at the World Bank, the International Youth Foundation, the White House, and the US Department for Health & Human Services.  She holds a Masters from Harvard Kennedy School of Government.  In 2015 she was listed among the 100 Global Inspirational Women in Mining.  She currently serves on the World Economic Forum’s Future Global Council on Long-term Financing, Infrastructure & Development and on the Development Partners Institute Advisory Committee.

Kwangbok Lee

Director 

Smart Infrastructure and Urban Development Korea Overseas Infrastructure and Urban Development Corporation

Kwangbok (Ryan) Lee, as the head of Smart Infrastructure and Urban Development, Smart Infrastructure and Urban Development Korea Overseas Infrastructure and Urban Development Corporation (KIND), develops and invests in smart city and smart infrastructure projects currently in Asia, Latin America, Middle East, and Africa regions. Before he shifted to the public sector, joining KIND at its inception in June 2018, his career predominantly unfolded in the private sector. He worked for Samsung C&T (Construction and Trading) Corporation as Regional Director of East Africa stationed in Nairobi, Kenya (2013–18), and as energy/ICT/Infrastructure project manager in 2006–13 in Samsung C&T’s Seoul head office. He worked at Financial Times Seoul print site as a part-time quality manager in 2003–05 while working on his MBA, and also served in the military as an army officer in 2001–03. Lee is an engineer with a Master’s degree in Business Administration acquired in Korea and a Master of arts degree (all but dissertation) in Rural Sociology and Community Development from the University of Nairobi, Kenya. Lee’s presentation will mainly deal with financing and investment trends and schemes for smart city development. Lee will also cover the Korean public sector’s various supports to facilitate project development and has suggested a cooperation scheme between KIND and the International Finance Corporation (IFC).

Emmanuel Nyirinkindi

Director, IFC Transaction Advisory Services

Mr. Emmanuel Nyirinkindi is a Ugandan national and is currently the Director Transaction Advisory Services at the International Finance Corporation (IFC), World Bank Group. Mr. Nyirinkindi joined IFC in 2006 as a Senior Investment Officer in IFC Johannesburg Office. He was the Global Head of IFC’s Public-Private Partnerships Advisory Services prior to his current position. Over the past decade, Mr. Nyirinkindi has established a strong record of leadership and execution in advising governments in designing and bringing to market commercially robust PPP projects that provide high quality, affordable and efficient infrastructure and social services to the public across a variety of sectors. Prior to joining IFC, Mr. Nyirinkindi worked for the Government of Uganda’s Ministry of Finance where he was responsible for the introduction of PPPs in the electricity and railway sectors, and coordinated legal and regulatory reforms in the basic infrastructure sectors. He also previously worked in the petroleum products industry in Uganda and with Makerere University’s Faculty of Commerce. He holds an MBA from the University of Kansas and a Bachelor of Commerce degree from Makerere University, Kampala.