Hanwha Systems will join hands with Korea Airports Corporation (KAC) to develop a full-fledged air taxi business model.
Hanwha System said it signed a "memorandum of understanding (MOU)" with KAC at the KAC’s office in Haneul-gil, Gangseo-gu, Seoul, on July 3.
Starting with the signing of the agreement, Hanwha Systems and KAC will form a working group between the two companies to jointly develop necessary technologies related to UAM (Urban Air Traffic) integrated monitoring, control, port of navigation, take-off and landing facilities, and boarding services, and establish a step-by-step test bed to demonstrate UAM operations.
Hanwha Systems entered the UAM market for the first time in Korea in July 2019 and is developing an integrated solution related to operation with the air taxi aircraft "Butterfly."
KAC is an airport and aviation company that has advanced the construction and operation of domestic and foreign airports and has the capacity to develop its own navigational equipment.
Hanwha Systems will be in charge of developing air taxi airframe, and KAC will be in charge of building facility infrastructure to create a profit-making system.
Cooperation area covers all areas of airframe, infrastructure, and operation services. Major cooperation points include developing business models such as urban air transport terminals, control and navigation ports, demonstrating core technologies and solutions, and establishing step-by-step test beds, jointly promoting international standardization of secure technologies, and entering global businesses by securing successful models in Korea.
Hanwha Systems is planning to minimize the risk of developing business models and maximize synergy to secure markets at home and abroad by utilizing technologies, infrastructure, and overseas networks that both companies have.
Hanwha Systems CEO Kim Yeon-chul said, "We want to create a standardized UAM success business model with the original technology and business capabilities of UAM owned by Hanwha Systems and the know-how accumulated by KAC while building and operating 14 airports nationwide. Based on this, Hanwha Systems will establish itself as a 'global UAM solution provider' that leads the global market by working with the government from 2025."
