Jeju Air Partners with Daewoo E&C to Build UAM Ecosystem

Jeju Air announced on the 31st that on the afternoon of the 30th, it signed a "Business Agreement for Building a UAM Business Ecosystem" with Daewoo Engineering & Construction at Daewoo E&C headquarters in Jung-gu, Seoul, with executives and employees from both companies in attendance.

Kim I-bae, CEO of Jeju Air (right), and Baek Jeong-wan, CEO of Daewoo Construction, are signing a business agreement at the Daewoo Construction headquarters located in Jung-gu, Seoul, on the afternoon of the 30th. Photo by Jeju Air

This business agreement between Jeju Air and Daewoo E&C plans to actively promote the development of sustainable business models and feasibility verification by utilizing the specialized capabilities each company possesses in various industries, in addition to their ongoing collaboration on the Ministry of Land, Infrastructure and Transport-led K-UAM Grand Challenge GC1 demonstration project.

Kim I-bae, CEO of Jeju Air, stated, “Since social acceptance is the most important factor for the commercialization of UAM, Jeju Air will actively utilize its aviation management know-how to establish a safe operation system that aligns with national UAM policies. Creating a sustainable UAM operation environment also requires stable demand attraction, so this business cooperation with Daewoo E&C is a meaningful step to concretize a business model that meets customer needs.”

Jeju Air is participating in the Korean Urban Air Mobility Grand Challenge hosted by the Ministry of Land, Infrastructure and Transport by forming a consortium with Daewoo E&C for integrated demonstration, aiming to successfully carry out the demonstration project through establishing integrated operation procedures and systems among UAM stakeholders.

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