Hyundai Construction and 4 Other Companies Join Forces to Build Urban Air Mobility Ecosystem

Hyundai Construction-Hyundai Motor-Incheon International Airport Corporation-KT-Korean Air 5-Company Collaboration
Strengthening Strategic Mutual Cooperation to Open the Future Urban Air Mobility (UAM) Era
Promoting Cooperation Based on Each Company's Expertise to Facilitate Early Settlement of the UAM New Market

KT President Park Jong-wook, Korean Air President Woo Ki-hong, Incheon International Airport Corporation President Kim Kyung-wook, Hyundai Motor Company President Shin Jae-won, and Hyundai Construction President Yoon Young-joon (from left) are posing for a commemorative photo after signing a business agreement related to K-UAM at Paradise City Hotel in Incheon on the 16th.

[Asia Economy Reporter Kangwook Cho] Hyundai Engineering & Construction announced on the 16th that it signed a Memorandum of Understanding (MOU) for the "successful realization and ecosystem establishment of the Urban Air Mobility (UAM) industry" with Hyundai Motor Company, Incheon International Airport Corporation, KT, and Korean Air at the Paradise Hotel in Yeongjongdo, Incheon.

The signing ceremony was attended by key representatives from the five companies, including Hyundai Engineering & Construction President Yoon Young-joon, Incheon International Airport Corporation President Kim Kyung-wook, Hyundai Motor Company President Shin Jae-won, KT President Park Jong-wook, and Korean Air President Woo Ki-hong.

This agreement expands the consortium formed last September by Hyundai Engineering & Construction, Hyundai Motor Company, Incheon International Airport Corporation, and KT to include Korean Air, covering the entire spectrum of the UAM industry ecosystem. Each company will leverage its expertise to mutually cooperate in revitalizing the UAM industry.

Through this MOU, the five companies plan to establish a close cooperative relationship by ▲ collaborating on building the UAM ecosystem and increasing social acceptance ▲ jointly working to activate the UAM industry ▲ jointly promoting a UAM business cooperation roadmap and demonstration projects among the five companies ▲ and jointly conducting the K-UAM roadmap and UAM Team Korea activities.

The agreement focuses on jointly advancing flight demonstration projects by defining roles and cooperation methods among the five companies. They intend to actively support industry development in collaboration with UTK (UAM Team Korea), a public-private consultative body under the Ministry of Land, Infrastructure and Transport aiming for commercial operation of urban air transportation services by 2025.

Hyundai Engineering & Construction plans to develop design and construction technologies for Vertiports (UAM takeoff and landing sites) and related facilities, as well as develop a mobility hub concept linked with ground transportation. Based on this, it will support the construction of facilities for UAM demonstration projects.

Hyundai Motor Company will focus on UAM vehicle development and test flight support; Incheon International Airport Corporation will handle UAM infrastructure construction, operation, and demonstration at Incheon Airport; KT will develop UAM communication infrastructure and data platforms; and Korean Air will be responsible for developing UAM flight control systems and demonstrating passenger and cargo transportation services.

Yoon Young-joon, President of Hyundai Engineering & Construction, stated, "For the future new market of UAM to be activated, it is essential to pre-establish the UAM ecosystem based on cross-industry collaboration among vehicles, air traffic, infrastructure facilities, and platforms." He added, "Through strategic development and technological pioneering, we will take the lead in realizing future cities integrating air and ground based on urban air transportation."

This content was produced with the assistance of AI translation services.