Innocean-Fortytwo Dot Sign Business Agreement for Future Mobility Service Development

Innocean Worldwide signed a business agreement on the 11th at its headquarters in Gangnam-gu, Seoul, with autonomous driving specialist company 42dot to "advance mobility in the autonomous vehicle service environment." Innocean CEO Lee Yong-woo (left) and 42dot CEO Song Chang-hyun. (Photo by Innocean)

[Asia Economy Reporter Seungjin Lee] Innocean Worldwide is expanding its mobility service business by partnering with a leading company in autonomous driving technology development as part of its digital transformation strategy.

On the 11th, Innocean signed a memorandum of understanding (MOU) with autonomous driving specialist company FortyTwo Co., Ltd. at its headquarters in Gangnam-gu, Seoul, to “advance mobility in the autonomous vehicle service environment.” This is the first joint business initiative in Korea between a comprehensive advertising company and an autonomous driving specialist company, expected to drive future growth engines through convergence of different industries.

Through this agreement, Innocean and FortyTwo plan to focus on ▲operating new platforms based on future mobility services ▲analyzing environments for autonomous driving technology application ▲planning and developing content ▲building service branding ▲creating business utilizing user data.

In particular, Innocean intends to leverage its accumulated know-how in operating various communication channels and platforms for consumers and its expertise in producing target-customized content to propose marketing solutions optimized for the changing physical environment and user experience due to the introduction of autonomous driving and artificial intelligence technologies.

The two companies will collaborate closely from the planning stage to provide differentiated mobility services. For example, they plan to build a one-stop mobility service including infotainment, e-commerce, and membership systems provided by platforms installed in autonomous vehicles and promote cooperation with various partners.

Founded in 2019, FortyTwo is a specialized company researching and developing mobility and robotics AI, currently focusing on developing future mobility platforms encompassing autonomous vehicles, drones, and unmanned delivery robots. In July, it also co-founded Purple M, a specialized company for customer-tailored e-mobility services based on electric vehicles, with Kia Motors, rapidly advancing new business initiatives.

Additionally, FortyTwo plans to introduce comprehensive mobility services such as car sharing, ride-hailing, smart logistics, and unmanned delivery through the launch of the urban mobility integrated platform UMOS.

Innocean CEO Yongwoo Lee said, “The meeting of the advertising company’s unique capabilities in creativity and innovative future mobility technology will generate infinite synergy effects, such as creating new business opportunities in unexplored areas,” adding, “We hope Innocean and FortyTwo can play a bridgehead role in activating autonomous driving services.”