On June 17 GS Engineering & Construction (GS E&C), a major South Korea engineering and infrastructure company, signed a strategic Memorandum of Understanding (MOU) with UI Group at its headquarters in Jongno, Seoul to form an urban air mobility (UAM) infrastructure development company to deliver integrated services encompassing vertiport operations, eVTOL flight operations, traffic management, and mobility as a service (MaaS) integration.
“In addition, through this agreement, UI Group will leverage its expertise in flight operations of UI Helijet and MRO (Maintenance, Repair, and Overhaul) of UI Helicopter to play a key role in establishing safety and maintenance systems for eVTOL operations, as well as in workforce development and training,” aaid GS E&C in a press release.
Key areas of cooperation include:
- Developing business models for the initial market based on complementary strategies
- Strengthening collaboration with Busan Metropolitan City for pilot projects
- Establishing an integrated UAM operation framework covering flight operations, traffic management, and vertiport management
- Exploring long-term strategic cooperation to build the foundation of Korea’s UAM industry
“GS E&C and UI Group plan to collaborate on UAM pilot projects led by the Ministry of Land, Infrastructure and Transport (MOLIT) and local governments,” said the company. “Together, they aim to establish practical capabilities and systems to ensure safe urban flight operations, while accelerating their entry into the early-stage UAM market. Beyond participating in demonstration projects, the two companies will also explore and develop joint business models for mid- to long-term expansion of UAM services, both in Korea and abroad.”
Representatives of GS E&C and UI Group pose for a photo following the signing a MOU for cooperation in the UAM business. (From right: Heo Jin-hong, Head of New Business Division at GS E&C; Rim Albert Sung-wieh, Vice Chairman of UI Group)
“As part of the agreement, GS E&C will take a lead in forming business partnerships with key domestic and international players across all UAM sectors to deliver integrated UAM services. UI Group will focus on ensuring safe operation and maintenance of eVTOL aircraft by contributing its expertise in flight operations and MRO, as well as in workforce training and development.
(Image: GSE&C UAM integrated operation Concept Design)