Hanwha Systems Signs MOU with Korea Airports Corporation for Air Taxi Infrastructure Development Business

Kim Yeon-cheol, CEO of Hanwha Systems (right in the photo), and Son Chang-wan, President of Korea Airports Corporation, signed a Memorandum of Understanding (MOU) on the 3rd for "Leading the Global Urban Air Mobility (UAM) Market."

Photo by Hanwha Systems

[Asia Economy Reporter Ki-min Lee] Hanwha Systems is partnering with Korea Airports Corporation (KAC) to actively develop an air taxi business model.

Hanwha Systems announced on the 6th that it recently signed a "Memorandum of Understanding (MOU) for Leading the Global UAM Market" with Korea Airports Corporation at KAC's headquarters in Gangseo-gu, Seoul. Starting with this agreement, the two companies will form a working group to jointly develop essential technologies related to urban air mobility (UAM) including integrated monitoring, air traffic control, flight navigation, takeoff and landing facilities, and boarding services, and will establish phased test beds for UAM flight demonstrations.

Hanwha Systems entered the UAM market for the first time in Korea in July last year and is currently developing the air taxi aircraft "Butterfly" along with integrated operation solutions. Korea Airports Corporation is a specialized company in the airport and aviation sector with expertise in constructing and operating domestic and international airports and possesses in-house capabilities for developing navigation equipment. Hanwha Systems will be responsible for developing the air taxi aircraft, while KAC will handle the construction of facility infrastructure to create a revenue-generating system.

The collaboration covers all areas including aircraft, infrastructure, and operation services. Key cooperation items include developing a business model for urban air mobility terminals (vertiports) where air taxis can take off and land, air traffic control, and flight navigation; demonstrating core technologies and solutions and establishing phased test beds; jointly promoting international standardization of secured technologies; and expanding into the global market by securing successful domestic models. Hanwha Systems plans to minimize business model development risks and maximize synergy for securing domestic and international markets by leveraging the technologies, infrastructure, and overseas networks of both companies.

Kim Yeon-cheol, CEO of Hanwha Systems, stated, "With the synergy of Hanwha Systems' core UAM technologies and business capabilities and Korea Airports Corporation's accumulated know-how from constructing and operating 14 airports nationwide, we aim to create a standardized successful UAM business model. Based on this, Hanwha Systems will collaborate with the government from 2025 to prepare pilot flight services and establish itself as a 'Global UAM Solution Provider' leading the world market."

Meanwhile, Hanwha Systems and Korea Airports Corporation were selected last month on the 24th as representative companies in their respective fields for the government-launched 'UAM TEAM KOREA.'