Seoul, Newswire – FREEGROW (CEO Kim Young-sik), a company specializing in indoor positioning technology, and COEX, South Korea’s largest convention center operator, signed a Memorandum of Understanding (MOU) on the 19th to develop a real-time indoor navigation service.
Grow Maps, FREEGROW’s indoor navigation service, is a mobile application (app) that provides real-time indoor route guidance. Using magnetic field data generated within buildings, combined with Wi-Fi, Bluetooth, and various smartphone sensor data, the app employs a proprietary algorithm to deliver accurate, real-time navigation without requiring additional hardware installations.
Grow Maps offers users a range of features, including real-time navigation for all stores and facilities within large commercial complexes, event and promotion information categorized by type, personalized notifications based on the user’s location, and an anonymous community where visitors can interact with others in the same space.
Under this MOU, the two companies will collaborate on:
• Providing real-time navigation for all stores and facilities within COEX
• Sharing data to enable personalized location-based promotions and benefits
• Enhancing community engagement by allowing users to connect with others nearby in an anonymous space
Kim Young-sik, CEO of FREEGROW, stated, “Through this partnership, we are not only pioneering a new business sector in indoor navigation services but also expanding our capabilities in location-based data analytics and marketing, making everyday life more convenient.”
Meanwhile, FREEGROW showcased Grow Maps to the public at World IT Show 2023, held at COEX from April 19 to 21.
About FREEGROW
FREEGROW is an IT venture company specializing in precision indoor positioning services based on magnetic field data, offering location tracking solutions for GPS-inaccessible environments. With its cutting-edge technology, FREEGROW has developed Grow Maps, a smart indoor navigation app currently available at COEX in Seoul.