SK Telecom (NYSE:SKM) today announced that it signed a Memorandum of Understanding (MOU) with Incheon Free Economic Zone (IFEZ) Authority to build 5G-based self-driving infrastructure and nurture ICT startups to advance smart city innovation in IFEZ.

The signing ceremony of the MOU was held today with the attendance of Park Jung-ho, the Chief Executive Officer of SK Telecom and Kim Jin-yong, Commissioner of IFEZ.

Designated as Korea’s first free economic zone on August 11, 2003, IFEZ consists of Songdo, Yeongjong and Cheongna International Cities with a total size of 132.9 km².

SK Telecom will create an HD map covering the entire IFEZ area starting with Songdo International City. An HD map is a machine-readable map with centimeter-level accuracy, offering essential information for self-driving, including lanes, road conditions, speed limits and road slopes. Thus, it is regarded as a key element for achieving Level 4 of autonomy for autonomous vehicles as defined by the Society of Automotive Engineers.   

The HD map will be built with ‘Dynamic Data Platform,’ a 5G-based real-time update solution for HD maps. Dynamic Data Platform automatically updates HD maps upon receiving road observation data from Advanced Driver Assistance Systems (ADAS) over 5G network. SK Telecom plans to install ADAS and 5G communication modules to public transport vehicles and official/government cars in the IFEZ area to detect all changes in the road environment.

Moreover, SK Telecom and the IFEZ Authority will build a data hub to systematically manage and analyze data of the floating population to enhance the convenience and safety of citizens through smarter transportation policies.

The two parties will also create ‘Venturepolis’ in Songdo International City to incubate startups. SK Telecom plans to realize 5G-based smart office in Venturepolis and support ICT startups through its True Innovation Program.

“The core of 5G lies in its power to transform all industries to deliver unprecedented value to people’s daily lives,” said Park Jin-hyo, the Chief Technology Officer of SK Telecom. “We will work closely with the IFEZ Authority to accelerate IFEZ’s transition to a smart city powered by SK Telecom’s 5G network and mobility technologies.”