TMAP to recommend attractions based on driving history, gender

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TMAP to recommend attractions based on driving history, gender

Published: 23 Sep. 2024, 17:48 Updated: 24 Sep. 2024, 09:37

LEE JAE-LIM
lee.jaelim@joongang.co.kr

TMAP Mobility CEO Lee Jong-ho speaks at a press event introducing the company's new service in Jung District, central Seoul, on Monday. [TMAP MOBILITY]

TMAP navigation systems will begin recommending attractions, such as restaurants and entertainment venues, to users based on their usage history and demographic information such as age and gender starting Tuesday.

The new service, whose Korean name translates to “Where to?", is part of operator TMAP Mobility's goal to expand the TMAP navigation service into a more versatile search engine platform.

“By utilizing driving and visitation data in our locational search and recommendation logic, we can see the service as a highly reliable offering that only TMAP can provide,” said Jeon Chang-geun, head of TMAP’s product division, at a press event in Jung Distict, central Seoul, on Monday. “We plan to apply AI to further enhance the personalized location recommendation service for each user so that our service can deliver a more connected experience in their searches.”

TMAP has accumulated 23 million users since its release in 2002 and is widely considered Korea's leading navigation app operator. The company aims to leverage the 6.7 billion points of mobility data it has accumulated each year in order to power the new feature.

The firm aims to generate annual revenue of 70 billion won ($52.2 million) through its data business this year and annual revenue growth in the 50 percent range by 2027.

To reach that goal, the company hopes to increase traffic from services beyond navigation and expand into data analytics by combining its real-time map and location data with the contributions of third-party partners.

“We aim to create a data-driven mobility ecosystem where users, businesses and TMAP Mobility can all achieve a win-win outcome,” said Park Seo-ha, head of TMAP Mobility’s data & innovation division.

TMAP Mobility CEO Lee Jong-ho also hinted at an upcoming initial public offering, commenting that the company “plans to proceed with selecting underwriters by 2025.”

TMAP Mobility was formed in 2020 after being spun off from SK Telecom's mobility division and incorporated under SK's investment arm, SK Square.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]