Areas of opportunity UAM
The Korean government is planning to invest $ 197 million between 2025 and 2030 to commercialize UAM services through the K-UAM Grand Challenge ( GC ) project . The project is a phased demonstration program to test and ensure safety measures for UAM platforms and traffic management systems for urban environments . The project is run and funded by the Ministry of Land , Infrastructure and Transport , and supported by the Korean Aerospace Research Institute ( KARI ).
Further investment of $ 7.7 million will establish the infrastructure for the GC testbed and build a Mobility-as-a-Service ( MaaS ) Station , enabling transfers between railway , bus , and UAM platforms by 2025 .
Major Korean companies including Hyundai , LG , GS , Hanwha and numerous other infrastructure and service providers and operators are forming consortia to take part in the project .
This government initiative presents significant opportunities to partake for Washington-based companies operating in the UAM ecosystem — from UAM platforms to traffic control and safety measures .
Drones
In the commercial drone sector , delivery services have been launched in Korean cities including Busan and Gapyeong , while additional areas are set to join soon . Companies like 7-Eleven and numerous e-commerce platforms are actively taking advantage of these services as well ; many municipal offices are using drones for surveillance and emergency situational awareness purposes .
As the Korean government plans to transform 64 mid-sized cities into smart cities , the demand for drones and related systems will grow . Drone surveillance to ensure safe operation and maintenance is a crucial component of offshore wind farms being built along Korea ’ s southeastern coast .
Companies with technologies for automating drone flight paths , advanced avionic drone sensors and ground sensors to reinforce flight safety would be of great interest to Korean companies and the government .
Space
The Korean government is set to spend $ 674 million this year alone on programs to expand its domestic space industry , and it is planning to invest $ 1.2 billion by 2031 to boost the sector further .
The “ Big Three ” aerospace companies in Korea are leveraging their respective strengths in the Korean “ space race .” Hanwha Group is investing in LEO satellites and launcher capabilities ; LIG Nex1 is promoting the Korea Positioning System , an ambitious government scheme to deploy positioning satellites by 2035 ; while Korea Aerospace Industries ( KAI ) is aiming to develop cube satellites .
JUNE | JULY 2023 ISSUE NO . 33 49