How a Japanese parking innovation could help solve LA’s parking crisis

As Koreatown’s parking shortage worsens, a Japanese company has successfully tackled urban parking challenges with an innovative approach that could serve as a model for Los Angeles.

One of the most congested areas in Koreatown, the intersection of 6th Street and Alexandria Avenue, faces serious traffic blockages due to parked cars obstructing lanes and reducing drivers’ visibility.

Japanese Park24 Revolutionizes Urban Parking by Transforming Idle Land

Meanwhile, Japan’s Park24 Group has become a national leader in urban parking solutions through its “Times” parking brand, which transforms underutilized land into efficient, cashless, short-term parking spaces.

Following Japan’s economic bubble collapse, many property owners were burdened with vacant land that was difficult to monetize. Park24 saw an opportunity and introduced a parking model that allowed small landowners to convert idle spaces into profitable parking lots with minimal investment.

Park24’s business model was simple yet highly effective. The team actively scouted urban areas, conducted feasibility analyses, and negotiated directly with property owners to either purchase or lease land at low costs. This strategy allowed them to expand their parking network rapidly while maintaining high profitability.

The Times parking system operates with minimal infrastructure and no human attendants. Drivers park their cars in a space equipped with an automatic locking mechanism that activates upon entry. To exit, drivers pay at an automated kiosk, which releases the lock. This cashless, unmanned system reduces labor costs while allowing 24/7 operation.

Could Smart Parking Model Solve Koreatown’s Growing Parking Crisis?

Additionally, pricing is dynamically adjusted based on demand and location. Park24’s TONIC (Times Online Network & Information Center) IT system enables real-time data analysis, optimizing parking rates and availability while providing users with live parking information.

Beyond parking, Park24 has further diversified its business by integrating car-sharing services, vending machines, and other micro-revenue opportunities, making each parking lot more profitable and efficient.

The company now operates globally, expanding its model to the UK, Australia, and New Zealand, according to the official website.

Could this innovative Japanese parking model offer a solution for Koreatown’s growing parking crisis? With the right approach, Los Angeles may be able to adopt similar strategies to alleviate congestion while generating additional revenue for landowners.

BY HOONSIK WOO [woo.hoonsik@koreadaily.com]