October 16, 2020 13:22
SK Telecom will team up with Uber to provide delivery or taxi services.
Korea's largest mobile operator in a board meeting Thursday decided to spin off its navigation business and launch a new mobility service after a W100 billion investment from Uber (US$1=W1,49).
SK Telecom will provide the business infrastructure and staff to become the top shareholder, and Uber will own the second-biggest stake.
The new company will use T Map, the smartphone map app used by 12.9 million people in Korea.
Uber had to stop offering ride-sharing services in Korea in 2015 after the government buckled to pressure from the established taxi lobby and refused to update the law.
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