Exporting Mobility Solutions to the Saudi Diriyah Project
Parking Solutions to Be Supplied First... Potential for Future Expansion
Kakao Mobility is exporting its mobility solutions for the first time since its founding.
On June 1, Kakao Mobility announced that it had signed a Memorandum of Understanding (MOU) with Diriyah Company for the joint development of future mobility services aimed at providing platform-centered mobility experiences within Diriyah, Saudi Arabia.
On the 26th of last month, Ryoo Geungseon (left), CEO of Kakao Mobility, and Jerry Inzerillo, CEO of Diriyah Company Group, took a commemorative photo after signing a Memorandum of Understanding (MOU) for the joint development of future mobility services aimed at providing platform-centered mobility experiences within Diriyah at the Diriyah Gate Development Authority in Saudi Arabia. Provided by Kakao Mobility
Through this MOU, Kakao Mobility will work with Diriyah Company to develop integrated mobility solutions, including a parking platform, for the Diriyah project. The Diriyah project is a large-scale urban development initiative.
The Diriyah project is part of the Saudi Arabian government's "Giga Project," a major infrastructure and urban development plan, with a total project cost of $63 billion (approximately 86 trillion won).
As a first step following the signing of this MOU, Kakao Mobility will operate parking infrastructure within Diriyah. Specifically, the company will develop an integrated solution system to manage parking reservations and payments for users. Kakao Mobility plans to focus on pilot operations for parking spaces in selected areas of Diriyah, and, depending on the results, aims to expand its parking solution to cover all of Diriyah. Diriyah Company is planning parking spaces that can accommodate more than 60,000 vehicles within Diriyah.
Kakao Mobility explained that it possesses technology suitable for use in underground and indoor spaces, enabling it to provide integrated solutions for parking lot operations. In 2020, Kakao Mobility succeeded in commercializing 'FIN (Fused Indoor localizatioN),' a mobile network signal-based indoor positioning technology, for the first time in the world. By applying FIN technology to Kakao Navi, the company provides navigation guidance even in underground parking lots or tunnels where GPS signals are unavailable.
Additionally, Kakao Mobility has operational expertise such as UPC (Universal Parking Controller) technology, which enables the management of multiple parking facilities with different infrastructures across a wide area through a single system, and a data-driven strategy that analyzes demand patterns by facility to distribute parking demand at the regional level.
This agreement also includes the possibility of further discussions regarding the expansion of Kakao Mobility's integrated mobility platform services. The two companies may also collaborate on the joint development of future mobility services for which there is demand in Diriyah.
Ryu Geungseon, CEO of Kakao Mobility, said, "It is an honor to have the opportunity to participate in the Diriyah project, which involves leading companies from around the world," and added, "Based on our experience in consistently offering mobility platform services such as taxis and rental cars overseas, we will do our best to demonstrate the excellence of Kakao Mobility's mobility solutions."
Jerry Inzerillo, CEO of Diriyah Company Group, stated, "We are proud to form a partnership with Kakao Mobility, a leading and innovative company in the mobility sector, for smart mobility solutions in Diriyah," and continued, "By introducing the latest smart technologies in mobility and parking management, we will further establish Diriyah as a world-class destination."
On the 26th of last month, in front of the aerial model displayed at the Diriyah Gate Development Authority in Saudi Arabia, Kakao Mobility officials, including CEO Ryu Geungseon (third from the left), are receiving an explanation about the Diriyah project from Diriyah Company representatives. Provided by Kakao Mobility
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