[Featured Stock] Vessell Benefits from Government-Led Autonomous Flight Personal Aircraft... Hyundai Motor's Future Growth Engine

[Asia Economy Reporter Hyungsoo Park] Vessell's stock price is on the rise. Expectations of benefits from the growth of the Urban Air Mobility (UAM) market appear to be influencing the stock price.

As of 9:24 a.m. on the 2nd, Vessell is trading at 6,430 KRW, up 6.28% from the previous day.

Vessell is participating in the government-led Autonomous Flight Personal Air Vehicle (OPPAV) national project along with Korea Aerospace Industries (KAI) and Hyundai Motor Company.

Jaeyoon Kim, a researcher at KTB Investment & Securities, explained, "Vessell has emerged as a key beneficiary in the upcoming UAM era by developing everything from two-seater light aircraft to unmanned aerial vehicles (drone-type aircraft)."

In the government-led personal aircraft national project, Vessell is involved in the production of prototypes and ground equipment. Researcher Kim stated, "Hyundai Motor Group has established a UAM division to prepare for the commercialization of PAV, the future air mobility," and added, "They are actively working to secure a leading position in the UAM market by collaborating with the Korea Development Bank to create a flying car investment fund worth 74.5 billion KRW."

Researcher Kim analyzed, "Since Vessell is jointly conducting the autonomous flight personal air vehicle national project consortium with Hyundai Motor, it is likely to be a core beneficiary of the UAM market growth."

He added, "Vessell Aerospace is preparing for an initial public offering (IPO) with the goal of listing in 2023."

Researcher Kim also estimated that Vessell turned a profit last year.