JEJU-DO < invest Korea

According to The Korea Economic Daily Global Edition,

Daewoo Engineering & Construction Co. and Jeju Air Co. have teamed up to participate in the Korean urban air mobility (K-UAM) project. The two companies announced on Wednesday that they had formed a consortium and signed a basic agreement for the first-phase demonstration project for the Grand Challenge, which is sponsored by the Ministry of Land, Infrastructure and Transport of South Korea.

The main objective of the agreement is to demonstrate the integrated operation of three key areas: aircraft operation, traffic management and vertiport before the K-UAM project becomes commercially available in 2025.

Daewoo E&C will take responsibility for designing, building and operating the vertiport, which is the airport for UAM, as well as developing a traffic management system to be integrated into the vertiport. Jeju Air will participate in air operation supervision and traffic management-related tasks.

The first Grand Challenge demo project will take place at a UAM-dedicated site in Goheung, South Jeolla Province, by the end of 2024. Once the project is successful, the two companies will participate in the second demo project.

In addition to Daewoo E&C and Jeju Air, Humax Mobility will participate in the operation of the aircraft battery charger and integrated mobility service in the vertiport.

"Combining Daewoo E&C's infrastructure design and building capabilities with Jeju Air's long-standing aviation business know-how will create synergies for the commercialization of the K-UAM business," Baek Jung-wan, the CEO of Daewoo E&C, expressed confidence in the partnership.

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Write to Hyun-Il Lee at hiuneal@hankyung.com





Source: The Korea Economic Daily Global Edition (Feb. 22, 2023)