SK Telecom said Sunday that its system-on-chip solution unit SKMtek will enter the Chinese driver assistant system market in a business partnership with ImageNext, a local around view monitor developer.
The advanced driver assistant system, or ADAS, aims to enhance road safety. The market is growing quickly, especially in China where the demand for high-end vehicles has been soaring recently.
According to SK Telecom, the nation's No. 1 telecom carrier, SKMtek and ImageNext on Sunday signed a memorandum of understanding to develop products designed exclusively for the Chinese market through joint research and development.
"Currently, only some luxury sedans are equipped with the ADAS solutions. Within one or two years, the market will soar globally, especially in China as well as in the U.S.," said a SKMtek official.
SKMtek is a joint venture between SK China and MtekVision. Established last February in Shenzhen, Guangdong Province, the company has exported system-on-chip solutions and other smart devices such as car date recorders and tablet PCs.
ImageNext, which has its own original around view monitoring technology, recently succeeded in commercializing the technology. The company has continued talks on business partnerships with global car makers.
The two companies plan to showcase their first jointly developed products during the Hong Kong Electronics Fair, which is scheduled for April 13-16.