Chronic Downtown Parking Frustrations... Solved with Smart City Technology

Shared Parking and Mobility Business Concept Diagram (Provided by the Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Chunhee Lee] Smart city technology has emerged as an alternative in urban areas struggling with parking shortages. The government plans to expand the achievements of Bucheon City, Gyeonggi Province, not only domestically but also internationally.

On the 24th, the Ministry of Land, Infrastructure and Transport announced that it will expand the 'Shared Parking and Mobility Project' in the Sangsalmi (Samjeong-dong) neighborhood of Bucheon City, which was selected and implemented as the 'Smart City Challenge Main Project' last February, to 13 areas within Bucheon City. This expansion is also intended to develop into an integrated transportation service that can be linked and used together with public transportation.

The Smart City Challenge project is a four-year initiative that supports up to 31.5 billion KRW to solve existing urban problems through ideas jointly discovered by private companies and local governments. It provides 1.5 billion KRW during the one-year preliminary project phase for business plan establishment and pilot operation, and if selected for the main project phase, up to 30 billion KRW is supported over three years. Following the selection of six preliminary project sites last year, the Ministry selected Bucheon City in Gyeonggi Province, Incheon, and Daejeon as three main project sites last February.

The Sangsalmi neighborhood in Bucheon City, where the shared parking and mobility project was implemented, was designated as a redevelopment zone in 2009 but was eventually canceled in 2018, and has long suffered from chronic parking shortages in the old downtown area.

Through this Smart City Challenge, the available parking spaces were significantly increased by sharing parking lots around the village, such as the Technopark, and resident-priority parking spaces, allowing users to see all available parking spaces at a glance. Additionally, when using the Technopark parking lot, valet parking or shared car and kickboard services were provided together to enhance convenience. All these services were operated and managed through a mobile application (app) and blockchain technology.

Various achievements were also made. With 280 shared parking spaces secured, the parking lot supply rate jumped about threefold from the previous 37% to 109%, while illegal parking decreased by 41%, from 266 to 156 vehicles per day. Resident satisfaction also greatly increased, and 21 new jobs were created through the operation by a village enterprise. In particular, the village enterprise, actively established by residents, played a significant role by supporting illegal parking inspections and other assistance. Bucheon City also increased the sustainability of the project by revising ordinances to support 70% of the monthly income of 30,000 KRW per resident-priority parking space to the village enterprise.

Based on these achievements, overseas expansion is also underway. Included in the Ministry of Land, Infrastructure and Transport’s 'K-City Network Global Cooperation Program' announced on the 19th was the 'Mobility Platform Basic Plan' for Ulaanbaatar, Mongolia. Ulaanbaatar was selected through consultations, including signing an MOU with Bucheon City. Additionally, Singapore, Mongolia, and Serbia have shown interest, and the project has been introduced through seminars. Local governments and companies such as Gyeonggi Province and Hancom Mobility have also visited Bucheon City to benchmark the solution.

Bucheon City plans to advance the project into a 'MaaS (Mobility As A Service)' platform through expansion, enabling optimal route guidance, integrated reservation, payment, and transfers by linking shared mobility and public transportation. It is analyzed that by 2022, 14 village enterprises will be established within Bucheon City, creating 300 new jobs and generating an economic effect of 4.9 billion KRW annually.

Kim Hyun-mi, Minister of Land, Infrastructure and Transport, said, "The high innovation and achievements of the Smart City Challenge, which is promoted with the participation of local governments, companies, and residents, have been proven," and added, "We will spare no policy efforts such as financial support, technical consulting, and regulatory innovation for nationwide expansion and overseas export."

This content was produced with the assistance of AI translation services.