Hyundai Construction Signs MOU for 'Korean Urban Air Mobility (K-UAM) Test Flight Demonstration Project'

[Asia Economy Reporter Yuri Kim] Hyundai Engineering & Construction announced on the 21st that it signed a Memorandum of Understanding (MOU) on the 18th at the Incheon Airport Terminal West Wing with Incheon International Airport Corporation, Hyundai Motor Company, and KT for the "successful realization and flight demonstration of Korea-type Urban Air Mobility (K-UAM)."

At the signing ceremony, key representatives from the four companies attended, including Seokyung Seok, Vice President of Hyundai Engineering & Construction; Jaewon Shin, Vice President of Hyundai Motor Company; Jeongseon Baek, Director of Incheon International Airport Corporation; and Hongbeom Jeon, Vice President of KT.

The four companies plan to establish a close cooperative relationship through this MOU by jointly promoting the Korea-type Urban Air Mobility (K-UAM) roadmap, jointly participating in the K-UAM Grand Challenge, conducting joint research and business cooperation such as the construction and operation of UAM takeoff and landing sites, and sharing trends in key technology markets.

The main content of the MOU is to promote a joint flight demonstration project by establishing roles and cooperation plans among the four companies. Based on this, the companies said they will actively support industrial development in cooperation with the Ministry of Land, Infrastructure and Transport's public-private consultative body, UAM Team Korea (UTK), which aims to launch urban air mobility services by 2025.

Under this MOU, Hyundai Engineering & Construction plans to develop structural and facility design and construction standards for vertiports, which are UAM takeoff and landing sites, as well as the concept for a complex transfer center linked with ground transportation. Based on this, it will support the establishment of facilities for the UAM demonstration project. Hyundai Engineering & Construction added, "This is also expected to create synergy within the group with Hyundai Motor Company, which is promoting an innovation strategy as a Smart Mobility Solution Provider by unveiling its UAM future city vision at CES 2020."

Meanwhile, Incheon International Airport Corporation will focus on the construction, operation, and demonstration of UAM at Incheon Airport; Hyundai Motor Company will be responsible for UAM vehicle development and test flights; and KT will focus on building UAM communication infrastructure.

A Hyundai Engineering & Construction official said, "We view the future new market of UAM ecosystems as a next-generation infrastructure business model linking various mobility services, and we will strategically nurture and pioneer technologies. To this end, we will concentrate our company’s capabilities and resources to take the lead in the successful establishment of Korea-type urban air mobility that the world is paying attention to."