Hanjin and LS Group Sign MOU for Aerospace and Urban Air Mobility Cooperation

"Joining Forces to Secure Future Growth Engines"

Hanjin Group and LS Group announced on the 28th that they had signed a memorandum of understanding (MOU) on the 25th to create synergies and pursue joint growth in various businesses, including the aerospace sector and urban air mobility (UAM).

Based on this MOU, the two groups agreed to leverage their respective core competencies and resources. In particular, they plan to expand their cooperation in a wide range of areas, including: advancement of aerospace industry technology through the application of smart factory technology; development of infrastructure for UAM operation systems and charging facilities; collaboration on expanding eco-friendly infrastructure and electrification technology for air transportation vehicles; and the expansion of electric vehicle charging stations.

Hanjin Group Chairman Cho Won-tae has identified the aerospace business as a future growth engine and is committed to its development. On the 23rd, Korean Air was selected as the preferred bidder for the Defense Acquisition Program Administration's UH-60 helicopter performance upgrade project, signaling a plan to diversify its business structure?which has been focused on passenger and cargo transport?into the aerospace sector.

A Hanjin Group representative stated, "We plan to maximize the use of available resources, including human and material assets as well as our networks, to strengthen mutual cooperation in each business area and establish a successful collaboration model."