A smart city is one that performs well across six dimensions: economy, environment, people, living conditions, governance, and mobility. It combines investments in social and human capital, physical infrastructure, and Information and Communication Technology (ICT) to create sustainable development and a high quality of life. The goal is to wisely manage available resources. The role of ICT is vital but not the only defining factor; human capital is equally crucial.

Real-world example: Songdo, South Korea, a smart city built from scratch, integrates ICT with daily life, from controlling heating in houses to delivering healthcare and government services via video conferencing. It also uses smart technologies to reduce its carbon footprint, improve energy efficiency, and promote sustainability.

Sustainable development strategies should focus on improving existing cities rather than building new ones due to the cost and resource requirements. Re-adaptation and upgrading of existing infrastructure can also lead to positive outcomes.

Real-world example: The transformation of industrial waterfronts in New York, Newcastle, and Oslo showcases successful redevelopment of existing cities.

Songdo is a £23 billion project, built on 600 hectares of reclaimed land near the Yellow Sea. It houses 65,000 people and 300,000 workers and features state-of-the-art infrastructure, smart technology integration, and an emphasis on sustainability. Its development as a smart city includes sensors for traffic flow and temperature control, and ICT-based services like telemedicine, distance education, and e-governance.

Songdo is also part of the Incheon Free Economic Zone (FEZ), which offers a business-friendly environment with tax breaks, foreign exchange circulation, foreign language service, and labor flexibility. The aim is to attract investment in high-end industries and global services.

Fun Fact: Songdo is also called a "Ubiquitous City" or "U-City" because of its pervasive use of technology!