From the left, Seongui Lim, Vice Chairman of UI Group, and Jinhong Heo, Head of New Business Division at GS Engineering & Construction, are signing a Memorandum of Understanding (MOU) for cooperation in Urban Air Mobility (UAM) business on the 17th and taking a commemorative photo. GS Engineering & Construction
On June 17, GS Engineering & Construction announced that it had signed a Memorandum of Understanding (MOU) with UI Group to jointly promote the initial commercialization of the Urban Air Mobility (UAM) business.
Through this MOU, GS Engineering & Construction will take the lead in establishing business cooperation to provide integrated services together with key sector operators in the UAM industry. UI Group, leveraging its expertise in operations and aviation maintenance, will be responsible for establishing aircraft operation safety and maintenance systems, as well as training and developing personnel.
The specific areas of cooperation include: ▲ development of business models for the initial UAM market; ▲ strengthening cooperation with Busan Metropolitan City for pilot projects; ▲ establishing a practical integrated UAM operation system (including operations, traffic management, and vertiport operation); and ▲ seeking mid- to long-term cooperation to build the foundation for the domestic UAM industry.
GS Engineering & Construction and UI Group will jointly prepare for UAM pilot projects led by the Ministry of Land, Infrastructure and Transport and local governments. They plan to establish practical capabilities and systems for safe urban operations and to accelerate entry into the initial market. In addition, they aim to go beyond simple participation in pilot projects by seeking and concretizing joint business models for mid- to long-term expansion into domestic and overseas UAM markets.
A representative from GS Engineering & Construction stated, "This MOU is an important milestone for GS Engineering & Construction to secure an operational foundation in the initial market as an integrated UAM operator and strategic investor," adding, "We expect that cooperation with UI Group will create significant synergy in securing practical operational business capabilities."
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