Korean Air signed an Urban Air Mobility (UAM) R&D cooperation agreement with the Incheon International Airport Corporation (IIAC) and the Korea Aerospace Research Institute (KARI) on August 5 to establish a safe and efficient UAM transportation management system.
The three organizations will conduct joint R&D to establish a UAM operations and transportation management system and develop the UAM industry.
Through the cooperation, Korean Air plans to utilize the technical capabilities of each organization to achieve meaningful results.
With its extensive experience operating commercial aircraft and expertise in unmanned aircraft development, Korean Air aims to develop the domestic UAM industry through synergy with the IIAC, which has air navigational aids and airport construction and operation capabilities, and KARI with its research competencies regarding future air traffic management.
As the next solution to solve traffic congestion and environmental problems by utilizing city skyways, UAM’s global market worth is expected to reach about USD 1.5 trillion by 2040.
Accordingly, the Korean government formed UAM Team Korea in June 2020 in a proactive effort to commercialize UAM in Korea by 2025.
The government is leading public and private sector cooperation while it pushes for the early stabilization of Korean urban air transportation.