Asia News: PMI in Korea renamed NAVTEQ
Picture Map International (PMI), which has functioned as a wholly owned subsidiary of NAVTEQ since 2005, will operate under the name NAVTEQ, effective immediately.
NAVTEQ acquired PMI in July 2005 – the company’s first acquisition of an entire mapping company – and offered the first digital map of South Korea in December that year.
Rich Shuman, senior vice president, Asia Pacific, commented: “Now that we have had the opportunity for both companies to integrate their people and respective expertise, and shown that we can successfully maintain a strong domestic business while growing the base of global customers using Korean data, we decided it was the right time to change the name of the company to NAVTEQ.”
The South Korea database currently features 100% coverage of the navigable road network including more than 150,000 km of roads, almost 500,000 POIs, alert features such as speed traps and school zones, and visual features such as topography, 3D landmarks and intersections and aerial imagery.
By end-2007, planned feature additions include private roads, detailed lane information, speed limits and highway junction views.
