Korea: KT with CarVi to provide ADAS to Lotte Rent-a-car
Published: 14 September 2016
In January 2016 KT had announced its partnership with Samsung and CarVi to provide ADAS.
“KT, South Korea’s second-largest telecom company, had joined hands with Samsung Electronics and CarVi.
CarVi, a Silicon Valley tech company specializing in advanced driver assistance systems (ADAS), to develop ADAS technology. It collects raw data on nearby traffic conditions using cameras, then analyzes the data with an intelligent Internet of Things (IoT) platform and finally provides information on possible road hazards in real time.
KT and CarVi have also signed a memorandum of understanding to cooperate on the joint commercialization of ADAS products, development of ADAS solutions and operations in the domestic and global markets.”
Read more at http://telematicswire.net
On Tuesday, 13th September 2016, KT announced that in partnership with CarVi, it will provide ADAS to Lotte Rental. CarVi signed a contract with Lotte Rental to supply its ADAS systems for 1,000 rental cars. The two companies agreed to complete application of the system within the year.
The nation’s second-largest telecom company said it expects to sensitize the Ministry of Land, Infrastructure and Transport to help introduce a law that makes the installation of an ADAS obligatory, to prevent massive car accidents caused by sleepy drivers.
“KT has pushed for business cooperation with startups fostered under the Gyeonggi Center for Creative Economy and Innovation through strategic investments,” KT Creative Economy Initiative Unit Senior Vice President Kim Young-myoung said in a statement. “We will continue to seek promising startups such as CarVi, aiming at establishing an ecosystem for the future.”
KT Corporation, formerly Korea Telecom, is South Korea’s state-owned telephone company. It dominates the local landline and broadband Internet market, serving about 90 percent of the country’s fixed-line subscribers and 45 percent of high-speed Internet users.