Knowing Exactly When It's Full... KM Park and EXCO Sign Agreement to Establish 'Smart Parking Lot System'

EXCO Co., Ltd. announced on the 8th that it has signed a business agreement with KM Park Co., Ltd. (CEO An Gyu-jin) to establish a smart parking system based on the KakaoT platform.

KM Park Co., Ltd. is a subsidiary responsible for operating Kakao Mobility's smart parking lots, overseeing everything from the construction to the operation of the KakaoT-based smart parking system.

CEO An Gyu-jin of KM Park (left) and CEO Pyo Cheol-su of EXCO are posing for a commemorative photo after signing a business agreement.

This business agreement was made to improve the congestion of EXCO’s parking facilities, which are visited by 2.5 million people annually, by building a smart parking system, providing convenient parking services centered on visitors, enhancing customer satisfaction, and strengthening competitiveness as a global exhibition and convention center.

The details of the agreement include establishing and operating a smart parking lot linked with the KakaoT platform within EXCO’s parking lot, introducing the KakaoT app, KakaoT indoor navigation, and QR codes. Both parties plan to cooperate actively to enhance customer convenience through the construction of a smart payment system and changes and operation of the parking program.

Once the smart parking system is introduced, visitors can check the predicted full occupancy information of EXCO at their arrival time through the KakaoT app before departure and receive recommendations for parking lot entrances with lower congestion. Additionally, the payment process, which was previously done at the time of exit, can now be completed one-stop within the KakaoT app, enabling contactless exit.

Parking fee discounts will also be simplified. Unlike the current system of selling and issuing physical parking tickets for payment, in the future, parking fee discounts will be applied using QR codes when entering meeting rooms or exhibition halls, and the payment amount can be confirmed in advance.

EXCO, which hosts about 120 exhibitions and over 1,800 meetings and events annually, has the largest parking facilities in Daegu. With the establishment of the smart parking system through this business agreement, it is expected to reduce visitors’ waiting times for entry and exit, decrease wandering time by providing real-time parking information, and contribute to alleviating nearby traffic congestion and increasing parking lot utilization efficiency.