Google has purchased 1.7 percent of Kakao Mobility in a strategic investment just as Uber forms a joint venture with T Map Mobility.
The Fair Trade Commission (FTC) on Wednesday said it saw no harm to the call-service mobility market caused by the joint venture while adding that the newly formed company will contribute to the market by competing with industry leader Kakao T.
T Map Mobility, a spinoff from SK Telecom, was officially launched on Tuesday. The newly launched mobility company said its strategy is to develop its existing navigation system into a Mobility-as-a-Service (MaaS) platform,
T Map Mobility, a spinoff from SK Telecom, has visions of flying and self-driving cars, though in the meantime it will be spamming users of the T Map navigation app with advertisements and insurance advice.
After the failure of both its ride hailing and food delivery operations in Korea, Uber is taking a new approach to the local market — this time in partnership with telecommunications operator SK Telecom.
Volvo is working with SK Telecom to develop a next-generation infotainment system that will appeal to local customers, who are known to have high standards when it comes to in-car electronics. The two companies signed the agreement Monday.