In the second quarter of this year, Ground Control, an incubator of Kingsley Ventures, launched the 'GeoPop' service, which helps ordinary individuals easily participate in the real estate development market, which has been open only to institutional investors and high net worth individuals (HNWIs). announced that it would be released. It is expected that a way for individuals to participate in real estate development projects with a small amount and enjoy safe profits will be opened.
The real estate development business has traditionally been a challenging field that requires enormous financial power, accurate information, and diverse expertise. For this reason, participation in the real estate development business for ordinary individuals is a market with high entry barriers and low accessibility. While contemplating a one-dimensional solution to provide a stable residential environment, Ground Control saw phenomena such as spirits (attracting souls) and debt-to-debt (investing in debt), which became social issues in the low interest rate environment for several years until last year, and stable supply of the real estate market. It is said that they sought a way to realize economic and social benefits at the same time by connecting needs with solid real estate and financial technology demand. The solution was to provide an opportunity for ordinary individuals who had been marginalized to participate in optimal real estate development projects with minimal entry costs.
The difference between the business model of a real estate development project devised by Ground Control and other real estate-related services is that participants can actively intervene from the development stage, when the greatest increase in value occurs during the real estate life cycle, to determine key issues of the project and closely observe them. point. Seo Tae-sik, CEO of Ground Control, said, “In fact, many real estate-related online services only deal with a specific area, such as building fragment investment and brokerage, or target already completed buildings. Real estate after the building is completed incorporates and bears the huge increase in value as expenses, not profits, and has no choice but to rely on price increases or rental income sensitive to the real estate market or policy without added value.” explained.
Ground Control, a comprehensive real estate data company, introduces selected real estate development projects by collecting, processing (standardizing), and analyzing real estate-related data, and is about to launch 'Geopop', a platform service that supports ordinary individuals to participate in small amounts and enjoy development profits. Also, the first development project will be released. It starts with small-scale residential real estate development and aims to handle projects of various sizes, crossing the boundaries of residential and commercial real estate with an increasing number of success cases. CEO Seo said, “I expect that the increase in users and project scale will induce not only institutional participation in the project but also project sourcing.” It will be highly useful,” he added.
Ground Control expects to achieve both positive economic benefits and non-economic outcomes such as 'market efficiency', 'wealth sharing', and 'promotion of public interest' through Geopop service. there is. Director Kim Hyeon-geun of Ground Control said, “Idle money flows smoothly into the market where funding is clearly needed and is used usefully, ordinary individuals enjoy value-added profits through real estate development, and new buildings, the result of business, meet the needs of the real estate market. It not only meets the requirements, but also adds beauty to the landscape, pleasing the public eye and enhancing user convenience.”
Ground Control is a company in which three co-founders with experience and abilities in various fields came together to solve the real estate market troubles in a beneficial way. CEO Seo Tae-shik, who has professionally participated in numerous real estate development projects as an architect, leads Jeon Joo-won, who is in charge of technology development and business development, and Kim Hyun-geun, who is in charge of finance and general operation, form the main axis of Ground Control.
Ground Control, which dreams of becoming a leading proptech company based on the steadily accumulating database and the advancement of the real estate analysis evaluation system, received seed investment from Kingsley Ventures in February 2022. In June of the same year, it was selected for the TIPS (Tech Incubator Program for Startups) supervised by the Ministry of SMEs and Startups, and at the same time, it is accelerating the development of new technologies and launching services. In the first half of this year, we plan to launch 3 to 4 development projects along with the successful launch of the Geopop platform/service, and in the second half, we plan to start developing a further upgraded Geopop service for the convenience and benefit of users.
Press Release: Ground Control
