SEOUL -- LG Uplus, a mobile carrier in South Korea, will provide 5G connectivity services for a domestic car-sharing mobility service platform. The ultra-fast mobile data communication technology will be used to connect cars, services, facilities such as smart parking lots and a control tower.
The car-sharing service is a next-generation rent-a-car service that targets consumers who wish to borrow vehicles for a short period of time and travel short distances. Using a service app, consumers can visit designated parks to rent cars. Borrowed vehicles can be returned to any affiliated stations or parking lots. Fees are normally charged by the distance the car has traveled.
Car-sharing services are popular among consumers in their 20s and 30s living in urban areas. The domestic market that stood at some 500 billion won ($425 million) in 2020 is growing at an annual average growth rate of about 22 percent, thanks to a steady increase in the number of single households who do not feel the need to own a car.
LG Uplus (LGU+) said in a statement on September 27 that the company signed a cooperation agreement with Humax Mobility, a domestic mobility service operator, to provide 5G connectivity services for car-sharing vehicles. LGU+ will demonstrate 5G-connected smart city technologies using Humax Mobility's infrastructure of rental cars, electric scooters, and parking lots, while Humax will offer real-time information about vehicles, charging stations, and parking facilities.
"By cooperating with Humax Mobility, we will take this opportunity to create a stepping stone that would help LGU+ make a foray into the mobility service market using 5G businesses models," LGU+ CEO Hwang Hyun-sik was quoted as saying.
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