Rummaging around for car keys may soon become a relic of the past.

South Korea’s electronic component manufacturing firm LG Innotek said Sunday that it has succeeded in developing a digital car key module that would enable smartphones to replace car keys. The module is equipped with high-precision location detection ability and has reliable security functions, LG Innotek said.

The company is actively running promotions targeting global manufacturers of vehicles and vehicle components in the US, Japan, and Europe as well as in Korea with the aim of mass-producing the product by 2022.

According to LG Innoteck, a digital car key module is a communication component that is installed in a car and allows wireless data transmission between a car and a smartphone. It allows users to open or lock their vehicle, as well as start the engine using just the phone. The smartphone must be inside the car to drive it, in order to reduce the risk of car theft.

Driving distance, fuel efficiency, tire pressure and other information relevant to keeping the vehicle in prime condition is all accessible from the mobile phone, the company said.

The latest product boasts an enhanced location detection technology, the firm explained. If an existing car key module could detect that a smartphone is located between 4.7 meters to 5.2 meters from the module, when the phone is actually 5 meters away, the LG Innotek’s module can detect the phone at an improved accuracy of a 4.9 to 5 meter-range, it said.

“It will be possible to implement various mobility services using the digital car key module to enhance customer value,” said Ryu In-soo, LG Innotek’s head of the Automotive Components & Electronics Business Division. “We will continue to release innovative automotive components that can provide drivers with convenient, safe, and enjoyable driving experience.”

According to data from global market research institution Strategic Analytics, the number of vehicles with digital keys in the global market will increase by 360 percent from 6.3 million units in 2020 to 28.9 million units by 2025.

By Lim Jeong-yeo (kaylalim@heraldcorp.com)