[AI Revolution](140) Grecter Digitally Connects Overseas City Infrastructure

Grecter Gains Global Attention with Diverse AIoT Technologies
'Elliot' Platform Generates 10 Billion KRW in License Revenue

Kim Young-shin, CEO of Grektor, is being interviewed by Asia Economy. Photo by Yoon Dong-joo

"We want to become a company that digitally transforms the city's fundamental infrastructure. From manhole covers that prevent fall accidents to smart streetlights that reduce electricity consumption, we are leveraging our diverse experience and know-how to pioneer overseas markets."

Founded in 2016, Grecter is a small but strong company striving to establish 'Smart City Management Systems' overseas in countries such as Vietnam and Spain. In 2023, it was selected as the lead company for a national project under the Korea-Spain International Joint Technology Development Program, creating a 'Smart Road Safety Infrastructure' (with a total budget of 4 billion KRW) on the streets of Barcelona. The goal is to recognize vehicles and pedestrians on the road to prevent fatal accidents and provide information necessary for autonomous driving to the control center. This project brings together cutting-edge technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Digital Twin to implement a safe and ideal road safety infrastructure.

In December last year, Grecter was invited to the founding event of the Haiphong Construction Contractors Association (HACC) in Haiphong City, Vietnam, where it introduced IoT devices for smart cities. Among them, the 'Smart Streetlight' was highlighted for its ability to recognize surrounding objects to turn lights on and off, reducing electricity consumption by 30%, and its potential use as a free charging station for electric motorcycles. The 'Smart Manhole' uses AI sensors to monitor whether the cover is opened or tilted to prevent fall accidents, while collecting various data such as temperature, humidity, rainfall, and harmful gases. The plan is to solve urban problems by reducing carbon emissions and preventing safety accidents through smart IoT devices.

Kim Young-shin, CEO of Grektor, invited to the HACC founding anniversary ceremony and smart city construction project exchange event in Haiphong City, Vietnam, last December. Photo by Grektor

Grecter CEO Kim Young-shin received great attention when introducing the company's solutions to Haiphong city officials. He said, "I clearly explained the necessity of these technologies for energy saving," and added, "I emphasized that we can utilize international aid projects or partner with local companies." He does not try to perform 100% of all tasks in any project. Since building a smart city involves various software, hardware, and communication technologies, finding a 'win-win' approach with other companies is the secret to winning contracts.

Grecter focuses on creating affordable and smart IoT devices and building a one-stop solution for integrated management. In particular, it has earned over 10 billion KRW in license revenue through its IoT-based device management system 'Elliot.' For example, 'Elliot WaterGrid' is an integrated water meter reading service with self-diagnosis capabilities. It makes it easy to identify causes of failures such as leaks and allows remote management.

CEO Kim diagnosed, "Developing countries need to solve housing, water and sewage, and power issues due to rapid urbanization, while developed countries are increasing demand for smart cities to respond to climate change agreements." He added, "We will focus on developing technologies that integrate and operate various heterogeneous devices and apply AI services in real time."