T Map Mobility Enters Freight Brokerage... Acquires IT Startup for 79 Billion Won

IT-Based Freight Transportation Brokerage Specialist
Startup YLP Acquisition Announced on the 18th

[Asia Economy Reporter Cha Min-young] T map Mobility, a mobility company spun off from SK Telecom, is entering the related market by acquiring YLP, an IT-based freight transportation brokerage startup. The existing CEO of YLP, Lim Jae-hyung, will remain and continue to lead the company.

T map Mobility announced on the 18th that it will acquire all 168,012 issued shares of YLP for a total of 79 billion KRW, making it a 100% wholly owned subsidiary. This plan was confirmed through a board resolution on the 12th. The comprehensive stock exchange is scheduled to be completed on the 29th of next month. The investment purpose is to expand and strengthen the business portfolio through new business investments.

Founded in 2016, YLP's sales in 2020 reached 27.7 billion KRW, an 18-fold increase compared to 1.5 billion KRW in 2017, the year after its establishment. However, net losses continued, recording a net loss of 2.5 billion KRW last year as well. The company serves about 300 clients, and the cumulative external investment last year reached 16 billion KRW.

YLP's core service is a logistics IT brokerage service dedicated to mid-mile logistics. When a shipper requests dispatch to YLP online and completes online payment, the system dispatches the vehicle accordingly. It computerized and automated all management tasks such as vehicle supply, which was previously handled manually, and cost settlement, which was conducted unofficially. Based on its own AI algorithm, it provides optimized logistics unit prices in real-time and offers related big data statistical analysis.

T map Mobility plans to integrate its digital transformation (DT), AI, and big data technologies into YLP's brokerage service to offer better services. They envision improving accuracy and efficiency in deriving real-time optimal logistics unit prices and forecasting freight transportation demand. All employees, including CEO Lim Jae-hyung, will be retained and employed continuously.

A T map Mobility official stated, "Through this acquisition, we will improve accessibility for shippers and support efficiency to create more demand," adding, "We will gradually establish a win-win framework with existing operators and stakeholders."