SKT splits mobility services unit, teams with Uber - Mobile World Live

SKT splits mobility services unit, teams with Uber

16 OCT 2020

SK Telecom (SKT) unveiled a plan to spin off its current mobility services unit as it seeks to boost innovation, alongside the formation of a joint venture with Uber Technologies to develop related amenities.

The operator aims to complete the creation of T Map Mobility by 29 December. It stated the unit will take over services currently offered by its Mobility Business Unit, is valued at around KRW1 trillion ($872 million) and predicted it would be worth KRW4.5 trillion by 2025.

SKT noted Uber Technologies was one of the first of several external backers it aims to attract for T Map Mobility. It committed to invest $50 million into the spin-off and $100 million into the pair’s joint venture, which is expected to begin services in H1 2021.

In a statement, SKT explained T Map Mobility will take control of all existing services including its T Map navigation system, “the largest mobility platform” in South Korea with “around 13 million monthly active users” (MAUs); and the “nation’s second-largest” taxi booking service covering 200,000 drivers and 750,000 MAUs.

Other services in the new unit’s remit include in-car payment, on-demand, and subscription-based transportation options.

But it will also explore employing 5G and AI to deliver future services including “optimal route planning; 3D HD mapping for high-altitude geographic features; and intelligent air traffic control systems” for vertical take-off and landing (VTOL) aircraft.

SKT CEO Park Jung-ho said it planned to “work closely with companies with diverse capabilities to address current challenges in transportation”, tipping flying cars as a potential future outcome of the work.



Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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