Disclosed is an indoor location recognition system capable of providing location based services indoors. The indoor location recognition system includes a portable terminal including a short range location recognition system and a wireless communication system using an RFID technology and a two-dimensional bar code technology, a geomagnetic sensor, a camera, an RFID reader or tag, an indoor navigation device calculating a moving distance from revolutions of a wheel of a shopping cart to transmit the calculated moving distance to the portable terminal, shopping mall map information transmitted to the portable terminal, and shopping mall application programs providing location based services. The shopping mall to which the indoor location recognition system according to the exemplary embodiments of the present invention is applied can reduce initial installation costs and operation costs while providing high accuracy of location estimation.