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Korea’s SK Telecom to make a USD100 million investment in Joby

Joby Aviation has announced that SK Telecom, a South Korean telecommunications company, is making an equity investment of USD100 million in Joby, as part of an expanded partnership between the two companies.

“The agreement, executed on 27 June, paves the way for Joby to participate alongside SKT in Korea’s “K-UAM Grand Challenge,” said Joby in a press release. “Joby and SKT first signed a strategic collaboration agreement in February 2022, which was expanded to include TMAP, South Korea’s largest mobility platform, in May 2022. Today’s investment is expected to lead to the development of further partnerships across the mobility ecosystem in Korea, led by SKT.”

Additional financial details are available in Joby’s 8-K.

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