VEStellaLab Signs Partnership with Saudi Arabia’s Digital Solutions
- 작성자 : 홈페이지담당자
- 작성일 : 2024.11.14
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At BIBAN 2024, held at Riyadh Front Exhibition & Conference Center (RFECC) in Riyadh, Saudi Arabia, VEStellaLab and Digital Solutions signed the MOU agreement | Photo by VEStellaLab
VEStellaLab (CEO Sangsu Jung), known for its parking navigation system Watchmile, which guides drivers to available parking spaces in real-time, signed a strategic partnership with Digital Solutions, Saudi Arabia’s IT facility management company (CEO Ali Alissa), on the 9th in Riyadh. This partnership aims to expand VEStellaLab’s presence in the Saudi market.
Digital Solutions supplies IT solutions to major Saudi government departments, such as the Ministry of Culture and Tourism, and large real estate developers like Roshn and Tilal. As a key player in IT services across Saudi Arabia, Digital Solutions specializes in managing large building systems and IT service distribution.
Through this partnership, VEStellaLab will develop and supply an AI-powered parking optimization solution tailored to Saudi Arabia, leveraging its advanced indoor positioning and smart infrastructure technology. Digital Solutions will utilize its local network to distribute this parking optimization AI solution throughout Saudi Arabia.
VEStellaLab’s flagship product, Watchmile, employs world-class indoor positioning technology and an AI model based on the large language model (LLM) to analyze parking occupancy status using existing security CCTV footage. This system updates real-time parking availability and guides drivers to optimal parking spots based on their preferences.
Currently, Watchmile serves various high-traffic locations, including Incheon International Airport, Seoul Station, and Cheonho Station. It also serves large public parking lots, major exhibition centers like KINTEX, large-scale residential facilities by Hoban Construction, and various knowledge industry centers.
In addition, VEStellaLab offers ZeroCruising, an autonomous V2I solution that provides real-time safety information to self-driving vehicles. This service supports precise vehicle positioning and navigation and alerts vehicles to blind spot hazards, enhancing safety for autonomous vehicles and pedestrians.
VEStellaLab CEO Sangsu Jung commented, “Last year, we partnered with Saudi Arabia’s Ministry of Investment, the Project Management Institute Saudi Arabia (PMI-KSA), which oversees projects like NEOM and parking management firm Easy Parking to supply AI-based parking optimization solutions. We successfully launched this solution in locations like Al Bujairi Heritage Park in Diriyah. With this new partnership with Digital Solutions, VEStellaLab aims to expand its AI parking optimization solution across Saudi Arabia and position itself as a leading smart city solution provider in the Middle East.”
VEStellaLab is actively supplying its parking optimization AI solution to companies in Korea, the United States, and Saudi Arabia, accelerating its international business. The company is also pursuing custom strategies with local partners and working to establish smart parking systems in international landmarks.
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.
