Hanwha Systems, the defense unit of Hanwha Group, said Sunday it would take part in an air taxi project by US personal air vehicle company Overair.
On Friday, the opening ceremony of the US company -- recently spun off from aerospace-development firm Karem Aircraft -- was attended by CEO Ben Tigner and Hanwha Systems CEO Kim Yeon-chul.
In December, the US Committee on Foreign Investment approved Hanwha Systems’ investment of $25 million in Overair. The Korean firm said it would contribute to the development of Overair’s Butterfly personal air vehicle, to maximize synergy between technology and business.
By Shin Ji-hye (firstname.lastname@example.org)