[ From left: KT President Park Jong-ook, Korean Air President Woo Kee-hong, Incheon International Airport Corporation President Kim Kyung-wook, Hyundai Motor Group President Shin Jai-won, Hyundai E&C President Yoon Young-joon ]

“Successful Realization of the UAM Industry and Establishment of an Ecosystem in Full Swing”

Hyundai E&C, in Paradise Hotel in Yeongjong-do, Incheon where the 2021 K-UAM Confex was held on November 16(Tue), signed an MOU with Hyundai Motor Group, Incheon International Airport Corporation, KT, and Korean Air for the “successful realization of the Urban Air Mobility (UAM) industry and the establishment of an ecosystem.”

The signing ceremony was attended by key representatives from five companies, including Hyundai E&C President Yoon Young-joon, Incheon International Airport Corporation President Kim Kyung-wook, Hyundai Motor Group President Shin Jai-won, KT President Park Jong-ook and Korean Air President Woo Kee-hong.

The agreement encompasses all areas of the UAM industry ecosystem as Korean Air was added as a new partner to the consortium agreement signed last September including Hyundai E&C, Hyundai Motor Group, Incheon International Airport Corporation, and KT, and the stakeholders engage to showcase their own expertise and mutually cooperate to promote the UAM industry.

The latest MOU will allow the five companies to build a close partnership through the ▲establishment of the UAM ecosystem and cooperation in social acceptance activities ▲ joint efforts to promote the revitalization of the UAM industry ▲joint implementation of UAM business partnership roadmap involving five companies and collaboration on demonstration projects ▲ joint implementation of K-UAM roadmap and UAM Team Korea activities.

The MOU is mainly aimed at implementing a joint flight demonstration project by establishing roles and cooperation plans among the five companies and work together with UTK (UAM Team Korea), a public-private consultative body of the Ministry of Land, Infrastructure and Transport targeting commercial operation of urban air traffic services by 2025, to actively support promoting the relevant industries.

By signing the MOU, Hyundai E&C is expected to develop technologies for design and construction of UAM take-off and landing Vertiport and develop a mobility hub concept in connection with land transportation. Based on this, it also plans to support the establishment of UAM demonstration

Meanwhile, Hyundai Motor Group is in charge of UAM aircraft development and test flight support, Incheon International Airport is in charge of establishing and operating and demonstrating Incheon International Airport's UAM infrastructure, KT is tasked to develop UAM communications infrastructure and data platform, and Korean Air will develop UAM operation control system and demonstration of passenger/logistics transportation services.

The five companies are establishing a blueprint for the UAM ecosystem based on a shared vision and are scheduled to announce it on the 17th (Wed), the second day of the K-UAM Confex event.

Hyundai E&C President Yoon Young-joon said that, “In order to revitalize the UAM market in the future, it is essential to build a UAM ecosystem based on joint cooperation between different industries such as aircraft, air transport, infrastructure facilities, and platforms,” adding that “Hyundai E&C will take the lead in realizing a future city that integrates the air and ground based on urban air transportation through fostering strategies and pioneering technologies.”