Topf Mobility is a future aviation mobility startup. It is currently providing a total solution that brings world-class electric airplanes into Korea and handles operation and integrated management.
Topf Mobility is led by CEO Jeong Chan-young. Jeong is an aviation expert who has worked in the aviation industry for about 10 years. After starting out as a flight attendant, Jeong went to the United States and obtained an FAA pilot's license. Jeong worked as a pilot in the United States, then joined a Korean aerospace corporations to handle new business strategy and research and development, including urban air mobility (UAM). Aiming to play a bigger role in aviation, Jeong founded Topf Mobility in Jul. 2023.
Topf Mobility has raised a cumulative 350 million won in investment and was selected for the Ministry of SMEs and Startups' "TIPS" in Oct. last year. It recorded 130 million won in revenue last year and, based on its large-drone business this year, is looking at 3 billion won in revenue.
This Feb., Topf Mobility obtained electric airplane certification, the first not only in Korea but also in Asia. Earlier, on 4th last year, it partnered with U.S.-based Textron to introduce electric airplanes. After receiving electric airplane certification, it plans to move into commercialization. Textron is a global corporations that holds 70% of the small airplane market.
Jeong said, "We plan to ramp up the business in Korea after verifying safety," adding, "It will be the first electric airplane operated in Korea." The Textron electric airplane is a two-seater light aircraft used for pilot training and tourism.
Jeong also plans to bring in a nine-seat electric airplane that is currently under development. Through this, the plan is to connect regions across the country that major Korean airlines do not serve and to leap forward as an electric airplane airline. Jeong said, "We will build a network that tightly connects distances of 30 to 40 minutes with future electric airplanes," adding, "We will accumulate not only know-how but also data as we operate electric airplanes."
Topf Mobility is also pursuing a large-drone business for cargo transport, wildfire suppression, and surveillance. They are used not only to lift necessary items to construction sites or up mountains, but also to deliver goods to underdeveloped areas. Recently, it introduced and sold wildfire-suppression drones in Korea.
Jeong expects the aviation paradigm to shift from internal-combustion airplanes to electric airplanes. Jeong said, "Carbon allocation is expected to be imposed on airlines with high carbon emissions worldwide," adding, "Decarbonization of the aviation industry will proceed rapidly, and Topf Mobility will respond the fastest to this market change and lead it."
The global aviation mobility market, including electric airplanes, is projected to grow from $96 billion in 2024 to $1.474 trillion in 2040.
Topf Mobility also plans to enter overseas markets. In island-rich countries such as the Philippines, Indonesia, and Vietnam, it plans to pursue not only cargo drone businesses but also electric airplane tourism. Jeong said, "We will grow into a global aviation solution company specializing in electric airplanes and cargo drones."