Socar-Korea International Trade Association Collaborate on 'Startup Testbed' Initiative

Socar Tests 'Vehicle Location Confirmation System' at COEX Rooftop Parking Lot

[Asia Economy Reporter Jin-gyu Lee] Socar announced on the 21st that it has signed a 'Memorandum of Understanding (MOU) for Startup Testbed Cooperation' with the Korea International Trade Association.

A testbed refers to an environment, space, system, or facility for testing the performance, effectiveness, and safety of new technologies or prototypes of companies. Through this agreement, the two organizations will cooperate on ▲joint promotion of startup testbeds ▲connecting Socar solutions with domestic and international testbeds that require them.

Starting this month, Socar will test a new 'vehicle location confirmation system' for about three months at the rooftop parking lot of COEX in Seoul. Socar users have experienced difficulties in vehicle pickup and return at Socar zones located in parking facilities with complex spatial information or large-scale operations. Socar plans to build a new system in this testbed to reduce vehicle confirmation and return errors, thereby improving user convenience as well as operational efficiency.

In particular, the COEX rooftop parking lot is one of the Socar zones with many user inquiries related to vehicle location confirmation and returns. Among the approximately 600 rooftop parking spaces, the locations of about 30 Socar vehicles must be confirmed, and due to the high complexity of the parking space, significant effects on technology development are expected.

About 10 key officials, including Won Jong-pil, Socar's Chief Technology Officer (CTO), and Lee Dong-gi, Head of the Innovation Growth Division at the Korea International Trade Association, attended the signing ceremony. CTO Won said, "It is very meaningful that a place has been prepared where Socar's new technology can be directly tested and proven," adding, "Based on the results of this testbed, we will strive to build a car-sharing environment that is easier and more convenient for customers to use."