April 27, 2024

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[THE INVESTOR] South Korean network operator SK Telecom said Thursday that it has partnered with the Korea Expressway Corp. and the Korea Electronics Technology Institute to start developing a new network technology for connected cars -- a business forecast for sharp future growth.

The three companies signed a memorandum of understanding in Seoul, agreeing to cooperate for the co-development of the next-generation “Vehicle-to-Everything,” or V2X, technology.

 

Senior Vice President of SKT’s Network Technology R&D Center Park Jin-hyo (left), Executive Director of Korea Expressway Corp. Choi Yun-taik and Korea Electronics Technology Institute’s Vice President Yoon Myung-hyun sign a memorandum of understanding for the development of SKT’s V2X network service at a ceremony on Thursday in Seoul. SKT

V2X refers to technology embedded in automobiles that enables cars to communicate with any entity that may affect it, including other cars, road sensors and pedestrians. It is considered a core element of connected cars and self-driving vehicles.

The advancement of V2X technology is expected to significantly improve driving safety -- an important part of actualizing self-driving vehicles -- by sharing the location of individual cars on the road, potential accidents and road infrastructure in real-time, SKT said.

“We expect this trilateral memorandum to serve as an important basis for the development of connected car solutions and the establishment of self-driving services (in Korea),” Senior Vice President of SKT’s Network Technology R&D Center Park Jin-hyo said in a statement.

Under the agreement, SKT plans to combine its existing platform solutions for vehicles with solutions developed by its two partners. For instance, its telematics system used for monitoring a car’s status, its self-built mobile navigation service T-map and its network services for the Internet of Things technology.

Korea Expressway Corp. plans to offer SKT its solutions for managing Korea’s roads and highways, while the Korea Electronics Technology Institute will provide the core chip sets needed in developing and systemizing SKT’s new connected car networks.

With such collaborative efforts, the three companies plan to put their newly developed V2X network technology to test in selected 40-kilometer road segments in and around Seoul by 2018, SKT said.

SKT’s efforts to bolster its connected car solutions business align with its broader vision to become a key platform provider of a range of new connected automotive technologies to be launched in the future.

The Korean telecom company recently made its flagship car navigation app T-map free for everyone starting from mid-July. By attracting more users, SKT said it is looking to enhance the app’s real-time traffic data and overall services.

SKT has also joined hands with local and foreign automakers such as Kia Motors, Jaguar and Land Rover to launch “T-map for Car,” a built-in navigation system for cars based on T-map’s database.

“Though SKT may be more focused on T-map and navigational services as of now, our long-term vision is to develop, standardize and improve our connected car solutions -- a promising business area for the future,” a SKT spokesperson said.

By Sohn Ji-young/The Korea Herald (jys@heraldcorp.com)