Itronics, Lotte World Tower Hi-Pass Parking Payment System Established

[Financial News] Itronics, a subsidiary of IEL, announced on the 11th that it has installed a Hi-Pass parking payment system at Lotte World Tower.
The newly introduced Hi-Pass parking payment system automatically charges parking fees through Hi-Pass when a vehicle exits. It is the first case in the country to commercialize a Hi-Pass payment system in a complex commercial facility. Users can exit without stopping, significantly reducing waiting time. The system's stability and processing speed have also been significantly enhanced.
The non-stop Hi-Pass parking payment system reduces the exit time per vehicle by more than 20 seconds compared to the existing unmanned payment machine method. It is highly evaluated from an ESG (Environmental, Social, and Governance) perspective through an annual reduction of 31t in carbon emissions. It not only alleviates congestion at parking lot exits, improving traffic efficiency, but also expects energy savings and environmental effects.
Especially with the domestic vehicle Hi-Pass penetration rate reaching 91.9%, Itronics has successfully expanded highway-centered Hi-Pass technology to private complex facilities, proving the scalability of its platform business and the feasibility of technology commercialization. This signifies the evolution into a smart city-type traffic solution utilizing Hi-Pass infrastructure. It is evaluated as a foundational technology that can be applied to various urban infrastructures in the future.
An Itronics representative said, "Applying our Hi-Pass payment system to the parking lot of Lotte World Tower, a representative complex facility in the country, is a result of recognizing our technological reliability and business competitiveness," adding, "Starting with this case, we will continuously expand Hi-Pass-based solutions to major public and private facilities."
Meanwhile, Itronics holds a 43.4% market share in the domestic highway Hi-Pass single-lane and multi-lane control system market. Recently, it has been expanding its domain not only to public roads and public parking lots but also to private commercial facilities.

butter@fnnews.com Kang Kyung-rae Reporter