Medicox Subsidiary Jungang Gloworks Announces Entry into IoT Device Distribution Business for Special Vehicles

[Asia Economy Reporter Jang Hyowon] Medicox subsidiary Jungang Gloworks is entering the distribution business of Internet of Things (IoT) terminals linked with Fleet Management Systems (FMS) for special vehicles such as agricultural machinery and heavy equipment.

Jungang Gloworks recently announced that it has signed a business agreement to be responsible for the domestic distribution of the IoT terminal ‘Telematics Device’ developed by A-Peopleet, a company specializing in the development of special vehicle management systems.

A representative from Jungang Gloworks stated, “The market for distributing IoT terminals linked with special vehicle management systems is estimated to be about 250 billion KRW, and we plan to implement various sales strategies aiming for annual sales of around 10 billion KRW in the related market.”

The special vehicle management system being developed by A-Peopleet is designed to monitor the operational status of vehicles and enable efficient management of costs, utilization rates, and safety through an artificial intelligence (AI)-based application program and IoT terminals based on telematics (communication control terminals) technology.

The company expects that by utilizing the special vehicle management system, it will be possible to manage vehicle assets and safety, prevent theft, and reduce operating costs, leading to high replacement demand for existing products. In particular, by leveraging the big data accumulated through the terminal system developed by A-Peopleet, there is also an expectation of potential market expansion into new business areas such as insurance, safety, repairs, and education in the future.

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