KT and Kakao Mobility signed a business agreement to jointly push forward their Smart Mobility business.
The two companies plan to combine KT’s connected car platform “GiGA Drive” with Kakao Mobility’s “Kakao T” platform and develop new mobility services based on this.
KT is providing connected car platforms to 14 automotive manufacturers (OEMs), including Hyundai Motor Co. and Benz. It accounts for about 46% of the connected car market (based on January 2019, Ministry of Science, Technology, Information, and Communication), which is estimated to be worth 1.86 million units.
Kakao Mobility offers comprehensive mobile services such as taxis, proxy driving, electric bicycles and navigation through the country’s largest mobility platform Kakao T, which has 22 million subscribers.
Through this cooperation, both companies are planning to push for mobility as a service that connects finished vehicles, connected car platforms, and B2C services as one.
For example, it is planning to develop an In-Vehicle Infotainment (IVI) terminal so Kakao T service can be used in vehicles or connect Kakao T to navigation within vehicles.
It is also considering linking KT’s self-driving and vehicle control technologies using the 5G network with Kakao Mobility’s Kakao T service.
“We expect Kakao T, South Korea’s leading mobility service that has the largest B2C subscriber base, will meet various mobility service needs of KT’s connected car platform users,” said Choi Kang-rim, executive vice president of KT’s Connected Car Center. “We have established a foundation to provide advanced services of Kakao Mobility in the automotive OEM and B2B connected car markets through cooperation with KT.” said Vice President Ryu Kwan-sun of Kakao Mobility Strategy Division.