Fobecon logo | Image by Fobecon
Fobecon, the company behind the AI-powered quantity take-off service Auto QTO, will attend the 2024 Smart Construct Expo, which will be held from November 20 to 22 at KINTEX in Ilsan.
The 2024 Smart Construct Expo, hosted by the Ministry of Land, Infrastructure, and Transport and co-organized by Korea Land and Housing Corporation, is a premier conference that showcases cutting-edge technologies and services that drive digital transformation in the construction industry.
Founded in January 2024, Fobecon is a new con-tech startup based in Pangyo Startup Zone, supported by the Ministry of SMEs and Startups, the Korea Institute of Startup and Entrepreneurship Development (KISED), and the Gyeonggi Center for Creative Economy & Innovation (GCCEI).
Fobecon will present Auto QTO 1.0 at the expo, which can rapidly generate construction quantity estimates using only CAD drawings. Notably, it provides quantity estimates for four wet construction types—masonry, plastering, tiling, and coating—processing data for 500-unit apartment projects within three days. Major construction companies, including Wooshin Ace and Kijun Construction, already use this service.
Since August 2024, Fobecon has been collaborating with POSCO E&C’s estimating group on a smart construction project, aiming to develop an AI-powered construction estimation platform that optimizes POSCO E&C’s quantity estimation workflows.
The 2024 Smart Construct Expo is free with prior registration until November 19. It offers a range of concurrent programs, including the opening ceremony. The event’s official website has further details.
Pangyo Techno Valley is a global integrated R&D hub focused on IT, BT, CT, and NT, integrating Research (R), People (P), Information (I), and Trade (T). As Gyeonggi-do’s representative innovation cluster, Pangyo Techno Valley was established to secure national new growth drivers such as technological innovation, human resource development, job creation, and enhancing international business competitiveness. As of 2023, 1,666 companies employ 78,751 people, and it has positioned itself as the most innovative hub in South Korea, with sales amounting to 167.7 trillion KRW (125.5 billion USD).
Furthermore, the Techno Valley Innovation Division of the Gyeonggi-do Business & Science Accelerator (GBSA) holds monthly events such as the Pangyo Evening Meet-Up, Pan-Pan Day, and the Pangyo Startup Investment Exchange “In-Best Pangyo” to maximize the value of Pangyo Techno Valley. They also support the Pangyo Overseas Promotion Program, which publicizes information about Pangyo’s companies, products, and services to domestic and foreign investors and the media, thereby facilitating foreign investment.
