InvestorsHub Logo
Followers 0
Posts 1624
Boards Moderated 0
Alias Born 06/13/2011

Re: MADDSTACKER post# 842

Thursday, 12/29/2016 9:09:19 AM

Thursday, December 29, 2016 9:09:19 AM

Post# of 986
LEOM is in the South Korean News>The following was released in South Korean News yesterday. In South Korea...

RELCON, 'smart urbanization project' in Shandong, Henan province, China

Digital news reporter
Enter: 2016.12.28 17:30:06

Lelcom, a smart IoT specialist, announced on August 28 that it has formed a consortium with a Chinese subsidiary to conduct a 'Smart Urbanization Project' in the city of Shchang, Henan Province, China.

RELCON developed a 'smart parking system' that combines artificial intelligence IoT technology and parking. The smart parking system enables the central control center to quickly respond to remote control through real-time management in the event of a machine failure or trouble in the parking lot. In addition, the parking lot user can check the parking lot position using the application, reserve the parking entrance, departure, and set the fare.

In addition, it provides an environment in which managers, operators, and users can efficiently utilize parking lots, such as solutions for linking with parking lots around the parking lot that provide parking discounts and reductions, and management and operation solutions for efficient sales management of parking lots.

The 'Smart Urbanization Project' is a follow-up project following the announcement of the 13th Five-Year Plan of the National Economic and Social Development by the Chinese government. In relation to this, Lelcone is moving into a smart car park as its first business.

Currently, China has a shortage of parking space compared to the increase in the number of cars. In particular, it is urgent to secure parking space at 3.1 per 100 cars, which is less than the standard for securing international public parking space (15 cars per 100 cars) in Henan province, China.

In the process of establishing a joint venture for the electric car business in Henan Province and the Henan Intercontinental Expressway Parking Company, which is the three largest parking facilities company in China, Leo Motors, the holding company of Lelcón, I received a proposal from the relay Wegusa. The company has already developed and tested a solution that is the core technology of smart parking building.

Lelcone has signed a memorandum of understanding with Hyunjoon Tech (representative clinic) and GLse (representative Kim Ki-yong), a leading manufacturer of automatic parking facilities in Korea, to advance into China. It is planning to establish a joint-venture company with 'Henan Inter-Weil Park Co., Ltd.'.

A Chinese joint venture company will produce smart parking lots in Shi Chang, applying cutting-edge parking facility technology, IoT and artificial intelligence technology. The product will be supplied throughout China, starting with Shishang.

Park Jung-seok, chairman of the consortium, said, "The consortium is composed of Korea's high-tech Internet technology, parking management system, and advanced parking facility technology, so it will participate in China's smart city business. I think we will be able to preempt the many 'Smart Urbanization Projects'.


The joint venture will build 5000 parking facilities in Shih Chang, the first year of business, in 2017. It expects to generate about 50 billion won in sales. The company plans to expand its business to China, including smart parking lot, smart street lamp, and smart battery business, with the launch of the 'Smart Urbanization Project' in China.

Based on Connected Solution, LEELON combines Artificial Intelligence Connected (AIC), which means connecting objects, objects, objects and people with "artificial intelligence," and LEO, a member of the Leo Motors Group. (LEOAIC).

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.