KT, POSCO team up for taxi business

KT said Wednesday that it signed an agreement with POSCO ICT to enhance cooperation in the electric taxi business at the World IT Show, the nation’s largest technology fair, at COEX Convention Center in Samseong-dong, southern Seoul. / Courtesy of KT

By Kim Yoo-chul

Local telecommunications giant KT has gained the spotlight at the nation’s largest technology fair, by striking new business deals and seeking new business chances with overseas clients.

KT, which aims to cut its heavy reliance on the saturated local telecom market and become a total solution provider, said Wednesday that it has agreed with POSCO ICT to collaborate in the electric taxi business.

The agreement came at World IT Show at COEX Convention Center in Samseong-dong, southern Seoul. The exhibition kicked off Tuesday and will last through Friday.

The Bundang, Gyeonggi Province-based outfit said Wednesday that under the deal, KT will provide integrated solutions to manage details of electric taxies and to control the operation, it said in a statement.

KT owns patents for the management of electric taxies, while POSCO ICT runs stations for electric vehicles in the nation’s southern island of Jeju.

“The two plan to grow markets for electric taxies and related business projects on Jeju,” said KT spokesman Lee In-won.

Lee said the deal is also aimed at cutting CO2 emissions, saving energy and protecting the environment.

Solutions for its electric taxis are one of the most popular items at the IT show. Its CEO Lee Suk-chae invited Choi Moon-ki, minister of science, ICT and future planning, to its booth to explain the firm’s strategy to expand its business to the non-telecom sector.

KT officials said the nation’s No. 2 mobile carrier is going to meet international buyers to export its patented solutions during the fair.

On a related note, the company’s CEO Lee and other chief executives plan to tap the possibility of boosting its overseas businesses in meetings with government officials from Colombia, Rwanda and the Philippines.