The size of the Korean parking lot operation market in 2016 is expected to grow to 1.226 trillion won and to 1.466 trillion won by 2020. (Source: VIG Partners) The existing parking market was centered around large-scale real estate leasing companies and O2O services, limiting the participants and users. Juchating presents a shared economic model that allows a large number of users to get compensated for profits, away from the way that mediating businesses are monopolizing the majority of existing profits with location-based and big data services.
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