Driving the Market with 'Richgo,' a Real Estate Information App Predicting Property Trends 2 Years Ahead Using Big Data and AI Technology

- Artificial Intelligence Model Trained on Over 30 Types of Big Data Predicts Apartment Prices 2 Years Ahead
- Establishment of Korea's Top-Performance Real Estate Market Data and Provision of Specialized Analysis Based on Real-Time Asking Prices

The real estate information application ‘Richgo’ is emerging as a rising powerhouse in the industry by providing highly accurate and diverse real estate data.

Founded in 2019, the proptech startup DataKnows Inc. first launched the specialized real estate app ‘Richgo’ in 2020. Last year, it introduced version 2.0 of the app, gaining attention for its distinctive technology and growing into an app visited by 1 million users monthly.

[Richgo Actual Service Screen]

‘Richgo’ is based on an AI model trained on over 30 types of big data to predict apartment prices two years into the future, enabling detailed analysis through investment scoring by region and complex. Additionally, it has built ‘Richgo Market Price’ data that offers at-a-glance redevelopment/opportunity analysis and tracks asking prices and actual transaction prices more accurately than competitors, demonstrating high performance.

In market conditions where actual transactions are scarce, it provides a lowest asking price feature specialized for real estate asking prices, and plans to expand data offerings beyond apartments and officetels to include land, buildings, and auction sectors.

Recognized for its diverse technological capabilities, ‘Richgo’ has collaborated with various financial institutions such as KB Real Estate, Hana Card, Hana Bank, Samsung Card, NongHyup Central Association, NH NongHyup Bank, as well as major construction companies including Hyundai Engineering & Construction, DL E&C, Lotte Engineering & Construction, GS Engineering & Construction, Hyundai Engineering, and Hanwha Construction.

With cumulative investments reaching 10 billion KRW through major financial institutions, ‘Richgo’ possesses a real estate AI model that outperforms competitors, demonstrating top-tier technology in Korea with an error rate below 8%. To protect its technology, DataKnows is in the process of filing and registering over 10 related patents, including a deep learning graph network-based real estate transaction information prediction method and system.

Kim Gi-won, CEO of ‘Richgo,’ stated, “We have structured real estate big data to be accessible to customers at their level, making real estate investment information easier to approach.” He added, “DataKnows’ strength lies in its harmonious organization of industry experts with rich experience alongside AI, data, and development specialists.” He further expressed his ambition, saying, “We will provide the easiest real estate service in Korea by delivering information in the Richgo way, expanding beyond apartments to buildings, land, and auctions.”