Modu Parking Lot Converts Over 9,000 'Reserved Resident Parking Spaces' for 'Play' into Shared Parking Lots

Socar announced on the 20th that its online parking platform, Moduui Juchajang, started the 'Idle Parking Space Sharing Service' in Uijeongbu City this month, surpassing 9,000 shared parking spaces in resident-priority parking lots.

A Socar representative explained, "Considering that the average cost per parking space in Seoul exceeds 100 million KRW, this means that we have created social and economic effects by saving approximately 900 billion KRW in new parking lot construction costs so far."

The idle parking space sharing service helps residents share their resident-priority parking spaces allocated by local governments or their own parking spaces with others during times when they are not using them.

Sharers can share their allocated parking spaces during specific times, such as weekday daytime hours when they usually do not use them, generating additional income like points.

Moduui Juchajang launched the idle parking space sharing service in 2013, enabling maximum utilization of existing parking lots without the need for costly and time-consuming new parking lot construction. As of this month, it has signed business agreements with 36 local governments in major cities such as Seoul and Busan, contributing to alleviating urban traffic congestion.

With the expansion of collaboration with local governments, the number of shared resident-priority parking spaces has increased, and usage has also grown annually. Over the past five years, the usage of the resident-priority parking space sharing service has recorded an average annual growth rate of 47.1%.

In particular, the utilization rate of the service by Seoul's districts stands out. Seocho-gu, where offices are concentrated, and Mapo-gu, known for its developed commercial areas, ranked first and second in usage last year. Jongno-gu, where the parking lot securing rate in residential areas is below 100%, also ranked high at third place. Other office-concentrated areas such as Songpa-gu and Yongsan-gu followed.

Usage time has also increased by an average of 47.2% annually over the past five years. The average hourly fee for shared parking lots is set at less than 1,200 KRW, about 80% cheaper than paid parking lots.

Additionally, Moduui Juchajang operates 18,000 shared parking lots, including resident-priority parking spaces. In September, it signed a business agreement with Jeju City Hall and is promoting a project to utilize some private parking lots near Jeju City Hall as affordable shared parking lots during certain hours.

Kim Dong-hyun, Socar's Chief Growth Officer, stated, "We will further advance Moduui Juchajang's idle parking space sharing service to minimize citizen inconvenience caused by parking space shortages and do our best to prevent unnecessary parking lot construction costs from being wasted."