SEOUL, May 11 (Yonhap) -- SK Telecom Co. said Monday its car infotainment system will be installed in Volvo vehicles sold in South Korea.
Under the partnership with Volvo Car Korea Co., the South Korean telecommunications firm will supply its in-vehicle infotainment (IVI) system and will cooperate to develop IVI-related technologies.
SK Telecom said its IVI system will be equipped in Volvo cars in South Korea starting with the 2022 models that are scheduled to be launched next year.
South Korea's leading mobile carrier said it plans to apply 5G technologies in the near future so that passengers can better enjoy various content inside their cars. The company said it will also support in-car payment service to promote smart mobility.
SK Telecom has been trying to expand its presence in the mobility sector in recent years.
In January, the company signed a partnership with China-based electric vehicle (EV) maker Byton to develop an IVI system. Last year, the company signed a navigation development deal with BMW.
According to consulting firm McKinsey & Company, the global connected car market is expected to grow up to US$1.5 trillion by 2030.
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