Posted : 2021-02-17 19:25
Updated : 2021-02-17 19:25
SOCAR has partnered with solutions provider RideFlux to launch self-driving services in the first half of this year. Courtesy of SOCAR
By Kim Bo-eun
Many people still have reservations when it comes to self-driving cars, but Korea is making strides in the sector. Self-driving vehicles, which had been limited to free trials, are revving up to be commercialized after regulations were established last year.
SOCAR in partnership with self-driving systems provider RideFlux is set to launch services on Jeju Island in the first half of the year. This comes after KakaoMobility launched the first self-driving automobile services last month in the administrative city of Sejong.
Posted : 2021-02-14 16:59
Updated : 2021-02-14 17:05
This file photo shows Uber taxis parked at Banpo Hangang Park in southern Seoul. / Courtesy of Uber
By Kim Bo-eun
A new player in the local mobility market is drawing attention to whether it will be able to challenge Kakao Mobility s dominance.
In December, SK Telecom launched its new mobility unit T Map Mobility, which is preparing to establish a joint venture with Uber in April.
The Fair Trade Commission approved the launch of the joint venture last week, stating it would promote competition and innovation in new business areas.
Uber is investing $100 million to own a 51 percent stake in the joint venture. The new entity will merge Uber s platform technology with T Map s capabilities. T Map is SK Telecom s version of Google Maps and offers an automotive navigation system based on its map data. The new entity will offer ride-hailing services with Uber vehicles.
Courtesy of SK Telecom South Korea s antitrust regulator has approved the proposed joint venture between the US-based ride-hailing company Uber Technologies I
By Lee Min-hyung
Logo of Kakao Taxi, a taxi ride-hailing app operated by Kakao MobilityCarlyle Group is set to invest $300 million (335 billion won) in Kakao Mobility s pre-initial public offering (IPO) capital expansion. Both sides are expected to sign a final deal no later than the end of February.
According to the investment industry, the U.S.-based private equity firm (PEF) was recently accepted as a major investor for the Kakao affiliate s capital increase plan. Under the deal, Carlyle is expected to secure a 10 percent stake in the technology services firm.
Two other PEFs are known to have taken part in the bidding for Kakao Mobility s pre-IPO fundraising, prior to Carlyle being named. UBS, a U.S.-based investment bank, is advisor for the deal.