Smart Station Specialist Dwelling Collaborates with Integrated Building Management Platform Provider Eden Property

Jeon Jeonghwan, CEO of Dwelling (left), and Kim Wangsik, Chairman of Eden Properter

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[Asia Economy Reporter Jongil Park] Dwelling, a smart station specialist company based on total air care (CEO Jeon Jeonghwan), has signed a strategic business partnership agreement with Eden Property (Chairman Kim Wangsik), which provides integrated building management platform construction solutions through building networking and digitalization, for the management, operation, and investment of the smart station business.

The contract was signed at Dwelling’s headquarters located in Sangam-dong, Mapo-gu, Seoul, with key executives from both companies in attendance, agreeing to collaborate on major projects necessary for enhancing the convenience and safe operation of citizens using smart stations in various ways.

Eden Property’s parent company, MaxServe, is the largest real estate asset management company in Korea, providing solutions across a wide range of fields including real estate, manpower, security, firefighting, and energy, covering facility management and overall corporate operations.

MaxServe is a solid company that retains the know-how and core technologies accumulated as the industry leader in facility management, having established the joint venture SMPMC with Shinsegae Property in February.

Dwelling is recognized as a 4th industrial revolution convergence service specialist company that provides advanced environmental quality of life by improving (ultra) fine dust, harmful chemical substances, bacteria, and odors through indoor and outdoor air quality measurement, monitoring, and purification systems based on core 4th industrial technologies such as Internet of Things (IoT), Artificial Intelligence (AI), and Big Data.

In particular, since being selected as a pilot operator for Seoul’s ‘Smart Bus Station’ project in 2021, Dwelling has focused on the installation and operation of smart bus stations. Currently, it has been selected as the operator for a total of 1,200 locations including central lanes and roadside bus stops in Seoul, as well as fine dust-free zones, securing about 4,500 advertising spaces, making it the largest single company holding digital out-of-home (DOOH) advertising spaces in Korea.

The strategic business partnership agreement between Dwelling and Eden Property centers on collaboration across smart station management business, outdoor advertising business, smart station joint investment business, and other operations platform and citizen convenience service provision businesses utilizing closed-circuit (CC) TV.

Dwelling is preparing for an initial public offering (IPO) in the second half of 2023, based on business diversification through transformation into a rapidly growing digital out-of-home (DOOH) platform operator, ESG (environmental, social, and governance) management, and sales growth.

At the signing ceremony, Jeon Jeonghwan, CEO of Dwelling, expressed his expectations, saying, “By being able to utilize Eden Property’s advanced facility management system and operational experience, we believe that the smart station-related projects to be launched in the future will gain more momentum.”

Kim Wangsik, Chairman of Eden Property, also responded, “I am pleased to be able to support a solid company that has grown rapidly in such a short time in a business for the public good. We will be able to undertake more meaningful projects going forward.”

The related industry is also paying attention to the partnership between Dwelling and Eden Property. Recently, Seoul Mayor Oh Se-hoon is strategically promoting smart city construction, and expectations are growing for the provision of citizen convenience through the expansion and operation platform development of smart bus stations, which serve as a stepping stone for the overseas advancement of ‘K-City.’

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