By Kim Yoo-chul



IBM Korea will build a cognitive computing center in Seoul to help tackle an aging society with technology.



"IBM submitted a letter of intent to the Seoul Metropolitan Government last month to set up a Watson lab to study smart-aging technology," an official at the Seoul city said, Sunday.



The company plans to complete the institute next year, though it has yet to determine details of the investment and scope of projects it will carry out with Korean partners.



The city government will provide administrative, financial and tax benefits to the company.



Seoul officials say the two parties agreed to build the center in Sangam Digital Media City.



They plan to sign a memorandum of understanding by the end of the month. Drexel University of the United States will also join the project.



The IBM's Watson Research Center is better known as the Thomas J. Watson Research Center and is a top-level think tank.



Cognitive computing is a new form of computing allowing users to interact with PCs using casual conversation based on big data systems.



It is similar technology-wise to Apple's Siri or Google Now; however, a cognitive computer becomes smarter over time as it learns from each interaction, a function far beyond typical computers.



City officials and IBM executives said this deal would be a "win-win" one as the city will address healthcare issues and boost related industries amid the ageing society by utilizing IBM technology.



For IBM, which identified cognitive computing as a major sector for future growth, the agreement is expected to help it find new customers in Korea as the institute is expected to research personalized cancer treatment and develop gene therapies.



IBM has taken major steps to develop Watson as a new business line for future success. Watson has made achievements in diagnostic medicine and cancer treatment.



IBM plans to inspire young developers to innovate through competition and college programs that focus on fine-tuning the Watson platform.



"We will announce more support measures for local startups and college students," said the city official.



IBM also plans to collaborate with major local hospitals including Samsung Medical Center on joint healthcare studies.



