The Hyundai Motor Company is partnering with Incheon International Airport Corp. (IIAC), Hyundai Engineering and Construction Co. and KT Corp. to accelerate the development of Urban Air Mobility (UAM) and work together to conduct test flights. With a memorandum of understanding signed on September 18, the four parties will work toward commercializing UAM by 2028.
Hyundai will push forward developing the UAM business and securing business cases while IIAC will work to establish the infrastructure and study feasibility of utilizing UAM as airport shuttles Hyundai Construction will utilize its expertise to build verti-ports as well as the transit hub that will connect UAM to other public transportations. KT will set up the communications infrastructure and make business cases for UAM as a mobility service. All four parties will be sharing necessary information during the development as well as jointly working on test flights.
“The breadth and depth of this partnership shows what it will take to build a comprehensive UAM ecosystem to serve megacities like Seoul,” said Jaiwon Shin, Executive Vice President and Head of Urban Air Mobility Division at Hyundai Motor. “Building a robust infrastructure and business model is just as important as developing innovative UAM vehicles.