Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS) = SK Telecom will invest $100 million(approximately 130 billion won) in Joby Aviation(hereinafter referred to as Joby), a global UAM(Urban Air Mobility) aircraft manufacturer, and cooperate in the UAM business.

SKT plans to secure an approximately 2% stake(acquisition of new shares) through this investment.

Joby, invested by SKT, is evaluated as having unrivaled technology in the field of electric Vertical Take Off and Landing(eVTOL) development used for UAM. The S4 aircraft developed by Joby holds the industry’s highest speed(322 km/h) and flight distance(241 km) records.

Through this equity investment, SKT will be able to use the Joby aircraft exclusively in Korea. The two companies also agreed on R&D cooperation and business cooperation to create a domestic UAM ecosystem.

“We will do our best to promote and commercialize UAM demonstration projects based on cooperation with Joby,” SK Telecom CEO said, “Through UAM, we will drastically reduce customer travel time and speed up UAM technology, contributing to Korea’s leap into a mobility powerhouse.”

By Soon-ki Lee(s8789@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

ⓒNSP News Agency·NSP TV. All rights reserved.