T Map Mobility

About T Map Mobility

T Map Mobility is a South Korean company, spun off from SK Telecom in December 2020, that operates as a comprehensive mobility and data intelligence provider. Initially launched in 2002 as a navigation service, TMAP has evolved into Korea's leading mobility platform, with 20 million registered users. The company is now a subsidiary of SK Square, SK Group's investment arm.

The company's core offering is its TMAP application, which provides navigation with real-time traffic data, route optimization, and location-based search services. T Map Mobility has expanded its services to create an integrated Mobility-as-a-Service (MaaS) platform. This platform includes taxi-hailing, designated driver services, parking solutions, public transportation information, and in-car payment systems (T Map Auto). The company is also developing an eco-route planning service to help electric vehicle drivers reduce energy consumption and is exploring carbon credit trading.

A significant aspect of its strategy involves a partnership with Uber. In 2021, they formed a joint venture, UT LLC, combining TMAP's local user base and mapping technology with Uber's global operational expertise in the ride-hailing market. However, in late 2024, T Map Mobility announced the sale of its 49% stake in the joint venture to Uber, signaling a strategic shift to divest from less profitable segments and focus on high-margin data businesses.

The business model is increasingly focused on leveraging its vast user and mobility data. Revenue streams include data solutions for B2B clients, usage-based insurance products, in-app advertising, and subscription-based bundles of its various mobility services. The company has recently been restructuring by selling non-core assets like its airport limousine and corporate chauffeur services to improve profitability ahead of a planned IPO in 2025.