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[Investor] Cheonsuman Bay region emerges as stronghold of future air mobility industry

By Kim Jun-hong

Published : March 5, 2024 - 17:18

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South Chungcheong Gov. Kim Tae-heum (center) and executives of Hyundai Motor Group pose after concluding an MOU to foster future air mobility infrastructure. (South Chungcheong Province) South Chungcheong Gov. Kim Tae-heum (center) and executives of Hyundai Motor Group pose after concluding an MOU to foster future air mobility infrastructure. (South Chungcheong Province)

Hyundai Motor Group and South Chungcheong Province have joined hands to lead the advanced air mobility (AAM) industry in the province.

In a strategic move toward innovating the transportation sector, the province concluded a business agreement with the automotive group to foster the AAM-related industry in Cheonsuman Bay B District in Seosan, provincial government officials said.

South Chungcheong Gov. Kim Tae-heum and Hyundai Motor Group executives attended the signing ceremony held at the provincial government in Hongseong on Monday.

The agreement was arranged to create a national hydrogen-based future industrial ecosystem in District B of Cheonsuman Bay by fostering new industries such as green energy-based high-tech aviation mobility, the officials said.

The AAM is a concept that encompasses urban air mobility (UAM) that moves short distances within the city, regional air mobility that connects regional bases and an unmanned aircraft system that transport logistics.

Under the agreement, Hyundai Motor Group decided to give priority consideration to using the area around Seosan and Taean as a site for new business facilities. It also vowed to cooperate in the development of urban future aviation by utilizing established aviation facilities in Seosan and Taean.

South Chungcheong Province agreed to provide administrative support to develop those areas as a local innovation cluster.

The province expressed hope that the agreement will help create a related industry cluster, including the establishment of the component test and evaluation center of the future aircraft, green UAM-AAV.

Hyundai Motor Group Chairman Chung Euisun sees future mobility such as AAM as key to the company's growth prospects. The carmaker is pushing to develop the air frame of a UAM by establishing the Supernal company in the US in 2021, and is operating an AAM headquarters in Korea.

By Kim Jun-hong (hongie@heraldcorp.com)