GS Engineering and Construction announced on the 17th that it has signed a business agreement with UI Group at the GS Engineering and Construction headquarters in Jongno-gu, Seoul, to promote the initial commercialization of urban air mobility (UAM) projects.
Starting with this business agreement, GS Engineering and Construction will lead the establishment of business collaborations for integrated service provision with UAM key sector operators. Additionally, UI Group will perform roles based on its expertise in operation and aircraft maintenance, including the establishment of a safety and maintenance system for aircraft operation, as well as personnel training.
The specific areas of cooperation in the business agreement include ▲ development of UAM initial market business models ▲ strengthening cooperation with Busan Metropolitan City for pilot project promotion ▲ establishment of practical UAM integrated operations (operation, traffic management, vertiport operation, etc.) system ▲ exploring long-term collaboration for building a foundation for the domestic urban air mobility (UAM) industry, among various other fields.
GS Engineering and Construction and UI Group plan to jointly prepare for UAM pilot projects led by the Ministry of Land, Infrastructure and Transport and local governments, establishing practical capabilities and systems for safe operations in urban areas, and to intensify their entry into the initial market of urban air mobility. Furthermore, they plan to seek and substantiate a joint business model for the long-term expansion of the domestic and international urban air mobility (UAM) market beyond mere participation in pilot projects.
An official from GS Engineering and Construction said, "This business agreement is an important opportunity for GS Engineering and Construction to secure an execution base in the initial market as a UAM integrated operator and strategic investor," adding, "Cooperation with UI Group is expected to create significant synergy in securing practical aviation business capabilities."