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▲ Kim Hak-sung (fifth from the left in the front row), CEO of WAVUS, and representatives from leading IT companies pose for a commemorative photograph after signing the W Alliance Memorandum of Understanding (MOU) at KINTEX in Ilsan on the 6th. (Photo courtesy of WAVUS)

[Daily Construction News | Reporter Cho Young-gwan] WAVUS, a provider of integrated geospatial solutions, announced on the 7th that it has signed a Memorandum of Understanding (MOU) with 27 leading IT companies to establish the W Alliance and actively promote collaboration utilizing its Geographic Information System (GIS) solutions.

The W Alliance will jointly market WAVUS’ GIS solutions, including GeOnPaaS, a 2D GIS platform solution; GeOnDT, a 3D digital twin platform solution; and Mappick, a Software-as-a-Service (SaaS) solution. Participating companies in the W Alliance will share license sales revenues with WAVUS and cooperate to pursue a wider range of business opportunities more efficiently. The key provisions of the agreement include ▲ mutual cooperation in sales and promotional activities for the three solutions ▲ revenue sharing from license sales ▲ provision of solution training and technical support.

The W Alliance brings together not only geospatial companies but also promising IT firms in diverse sectors seeking to leverage geospatial information, including ▲ augmented reality (AR) ▲ gaming ▲ big data ▲ financial services. Participating companies agreed to cooperate in fostering the future development of the GIS ecosystem. The signing ceremony, held on the 6th at KINTEX in Ilsan, was attended by WAVUS CEO Kim Hak-sung and representatives from 17 W Alliance member companies, including BI Matrix, iWay, ArtigenSpace, FORCS, and Heliosen.

Through this agreement, WAVUS has established what it describes as the largest economic cooperation network in Korea’s GIS industry. The company expects that by adopting its solutions for commonly required GIS project functions—such as address conversion and search, map control and management, spatial analysis, and visualization—organizations will be able to reduce project duration and manpower requirements, thereby accelerating project implementation and improving profitability.

Kim Hak-sung, CEO of WAVUS, said, “Through this agreement, participating companies will be able to secure a competitive advantage in the GIS solutions market by combining their specialized business expertise and technological capabilities, which is expected to significantly improve profitability. We believe this will provide an opportunity for geospatial companies, which have traditionally focused on building business systems based on conventional mapping technologies, to collaborate across a broader range of industries, thereby expanding the GIS market and enhancing the quality of the overall ecosystem.”

Kim Kyung-rok, Executive Vice President of BI Matrix, added, “Until now, organizations seeking to incorporate geospatial information into their businesses either had to purchase expensive GIS engines or secure specialized GIS expertise and personnel to customize open-source solutions to meet their needs. Through this MOU, we have gained a way to overcome these barriers.”

Meanwhile, the W Alliance plans to recruit additional partner companies each year and intends to hold technical seminars next year, including sessions on solution utilization strategies and case-study sharing.

Cho Young-gwan, Reporter

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