YapX Builds Total Location-Based IoT Infrastructure at Seoul Express Bus Terminal Underground Shopping Mall

[Asia Economy Reporter Jang Hyowon] YapX (CEO Choi Simyeong), a KOSDAQ-listed company, is set to officially commence the establishment of a location-based total Internet of Things (IoT) infrastructure project for the underground shopping mall ‘GoToMall’ at Seoul Express Bus Terminal.

On the 15th, YapX announced that through its subsidiary YapXNet, it signed an infrastructure construction support contract aimed at activating IoT for small business stores in ‘GoToMall’. YapXNet is a 100% subsidiary newly established by YapX, centered on specialized personnel, to carry out more efficient IoT business operations.

Starting with this contract, YapX plans to supply location-based total IoT infrastructure within small business stores in ‘GoToMall’ to establish a service provision foundation for IoT infrastructure construction partners such as its subsidiary YapMobile. This infrastructure construction includes communication-supported beacon devices such as ultra sound (ultrasound) and Bluetooth, as well as UWB (Ultra Wide Band) supported terminals, enabling more precise location-based services.

The company stated that as demand for precise measurement of location and distance has recently increased, UWB technology is also being integrated into smartphones, leading to various emerging services. By combining this with existing location-based technologies such as Bluetooth and ultra sound, they plan to support even more precise location measurement and guidance services.

For example, while existing UWB networks only measure simple store locations, when linked with beacon devices supporting ultra sound and Bluetooth communication, it becomes possible to provide detailed location guidance within the store, such as sales counters, fitting rooms, and checkout counters.

The location-based IoT infrastructure built by YapXNet will also support additional services linked with it, including ‘indoor navigation’ services implemented by connecting positioning technology with augmented reality (AR), as well as boarding time notifications, boarding gate guidance, and contactless shopping.

Additionally, services such as ‘COVID-19 Notifier’ that track confirmed and contact cases around users, and ‘YapOrder’ which supports smart ordering by store, will also be linked. The company expects that beyond this, integration with metaverse and mobile commerce will cover store introductions, sale information, event advertisements, as well as card and electronic payment systems.

‘GoToMall’ is known as the largest underground shopping mall in the Gangnam area of Seoul, maintaining over 600 stores before the arrival of COVID-19, with an estimated daily floating population of 400,000 to 500,000 people.

Choi Simyeong, CEO of YapX, said, “Through a linked system with our subsidiary YapMobile, the application areas and scope of domestic small business IoT infrastructure will continue to expand, centered on competitive IoT technology. The IoT infrastructure system established through this project is expected to enhance cost reduction effects through work efficiency for retailers, and provide convenience to consumers through store pre-reservation and real-time information, becoming an essential daily service where both sides can win.”

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