The South Korean Government is planning on launching urban air mobility services within the metropolitan Seoul area by 2025. The Ministry of Land, Infrastructure and Transport (MOLIT) is working with local companies and Hyundai Motor Group to commercialise new UAM services within five years. A new law will be passed to accelerate commercialisation of UAM services, allowing South Korea to establish a lead over other countries’ efforts.
The new Korean urban air mobility system has been named K-UAM.
The government envisages that the UAM industry could be worth $600 billion by 2040. It wants the country to become a major global player in what it perceives as a significant growth industry. American, European and Chinese firms are currently developing UAM vehicles.
The ministry envisages one or two urban air mobility terminals in Seoul by 2025. It intends to increase the number of terminals to ten by 2030.