Paying Parking Fees Gets Easier with ‘Parking Park’

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On October 30th, ‘Parking Park’, which provides information about more than 23,000 parking lots across Korea , collaborated with parking system and solution specialized company called ‘Tomato Electronics’ and created Internet of Things (IoT) based  ‘Online to Offline (O2O) manless parking fee transaction system’. In the future, Parking Park app users can easily pay parking lot fees via Parking Park app in real time in any parking lot installed with Tomato Electronics parking management system.

 

If such ‘O2O manless parking fee transaction system’ becomes popular, users can save their time considerably because they can pay parking lot fees early on. Since 2013, Parking Park has been providing services to drivers such as GPS navigation, parking spot guidance, alarms informing parking time expiration, and is predicted to accomplish a total of 200,000 downloads. Furthermore, with the development of ‘real time parking fee transaction service’, parking lot operators could better manage their parking lot systems .

 

Park Heung Rok, CEO, clarified, “The manless parking fee transaction system marks the beginning  of O2O services in parking lots”. Previous parking lot operators could not open their parking lots 24/7 because of the payroll costs. However, app- based parking fee transaction system will make 24-hour open parking lots to be feasible.

 

For example, a parking lot near Gangnam station, one of the most crowded areas in Seoul, currently charges an expensive rate of $8~$10 parking fee at night because parking lot operators need to hire people to work overnight. Parking Park app will decrease the need of hiring night employees and could sell cheaper “night/late night/weekends parking lot passes”. Doing so, Parking Park app will establish a niche in the parking lot market.

 

Currently, Parking Park is providing its Parking lot data bases as a refined API format by working with its

binding contractors such as SK planet T Map, LGU + U+ Navi, Fine Digital, and Mappers. In addition, it is proceeding a collaboration marking with ‘designated driving’ and ‘car sharing’ services. Lastly, Parking Park is planning to contract with car repairment app companies to focus on the growth of car-related O2O services.

 

Inspired by Platum

Alex is a junior at Pomona College majoring in neuroscience. She is interested in the applications of technology in traveling, medicine, natural sciences, gaming, and food. Alex can be reached at alexsjlee@techforkorea.com.

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