The stock price of Vesel is rising following news that the government will expand the scope of the UAM (Urban Air Mobility) pilot project from the existing metropolitan area to non-metropolitan regions. This is interpreted as a buying spree driven by nationwide expectations for UAM commercialization.
As of 9:23 a.m. on the 6th, Vesel is trading at 4,840 KRW, up 3.64% compared to the previous trading day.
According to the Ministry of Land, Infrastructure and Transport (hereinafter MOLIT) on the previous day, MOLIT is preparing a regional UAM pilot project. A preliminary feasibility study will begin this month, and a detailed project implementation plan is expected to be prepared by January to February next year.
UAM, spotlighted as a future transportation mode, is an aviation service based on electric vertical takeoff and landing aircraft (eVTOL) powered by electricity, capable of vertical takeoff and landing in urban areas without runways.
Previously, the government planned to commercialize routes (30?50 km) connecting urban areas in the metropolitan region by 2025 through the metropolitan pilot project. However, to expand the scope of UAM utilization and promote balanced regional development, the pilot project scope will be extended to non-metropolitan areas.
MOLIT is also expected to announce the second phase of the metropolitan UAM demonstration route connecting Gimpo to Jamsil along the Han River within this month.
A MOLIT official stated, “The UAM non-metropolitan regional pilot project will not end after the initial phase but will continue with various types of projects such as transportation service, tourism, logistics delivery, and public service in as many regions as possible.”
Meanwhile, Vesel is known to have participated alongside KAI and Hyundai Motor Company in the government-led national project for autonomous personal air vehicles (OPPAV).
Vesel, engaged in businesses such as UAM, manned and unmanned aircraft, and aviation parts, demonstrated its top-tier independent vertical takeoff and landing aircraft design and development capabilities in Korea through Drone Show Korea.
Recently, Vesel sold its management rights to THE E&M, a company listed on KOSDAQ.
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