SK Telecom Invests 20.7 Billion Won in Japanese Schedule-Sharing App 'TimeTree'

SK Telecom will invest in TimeTree, a Japanese startup that operates a schedule-sharing application. The investment amounts to 2.2 billion yen (approximately 20.7 billion won). Nihon Keizai Shimbun reported this on September 7.

The method of investment has not yet been disclosed. The official announcement is scheduled for September 8. SK Telecom and TimeTree will form a consortium to develop artificial intelligence features aimed at improving calendar convenience. These features are expected to include automatic ticket and hotel searches based on scheduled events, as well as suggesting optimal meeting times by considering multiple users' schedules.

A view of an SK Telecom store in downtown Seoul. Photo by Yonhap News

Nikkei reported that this is the first time SK Telecom has partnered with an overseas company in the field of artificial intelligence. On September 5, SK Telecom held the K-Alliance Global Meetup in Tokyo, where it showcased its artificial intelligence technologies and services.

Founded in 2014, TimeTree established its first overseas base in South Korea in January of this year. The application currently has about 67 million users and is known as a "calendar used together with family, partners, and colleagues." The company is co-led by Park Chajin and Fukagawa Yasuto.