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    AJ Park to expand its business by attracting 57 billion won
  • AJ Park will take aggressive steps to expand its domestic and overseas businesses with the largest amount of money in the parking industry. AJ Park, a subsidiary of AJ Networks, a leading manufacturer of parking and parking equipment, has signed a contract to issue 57 billion new shares with Medi Invest, a private equity investment management company. After the acquisition, the stake in Medici Investment is expected to be 45%. AJ Park is Korea's No. 1 parking company specializing in manufacturing and sales of parking services based on app service and LPR (license plate image recognition), public and large parking spot valet service, parking fee control equipment and mechanical parking facility, Is the only company in Korea that is engaged in business in all areas of parking. In December 2017, as a result of completion of vertical integration of parking business through investments in AJ Tongyang Menics (formerly Dongyang Menics), a specialized parking company, and a developer of a smart parking system, Daewa Parktec, The construction of the extra large parking business system of 150 billion won or more was established. The investment funds will be used for M & A for expansion of parking lot operations, development of parking buildings (parking towers), long-term parking rights, and additional investments in recently acquired subsidiaries and overseas businesses. The company plans to increase the number of domestic branches to more than 150 by 2020, and to export parking products and total solution services to overseas based on domestic know-how. AJ Networks said that AJ Park has become an opportunity to appreciate AJ Park's corporate value and growth potential, and said it expects to grow its business not only in earnings but also in the future. AJ Park is expected to continue its aggressive stance in order to preoccupy the market based on its abundant funding power, as parking related businesses are rapidly growing and attention is focused on the social need for IoT-based parking service.

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