3 days ago
Korea to invest W700b in advanced air vehicles through 2031
Korea has decided to commit 700 billion won ($506 million) to securing domestically developed advanced air vehicles, or AAV, from 2027 to 2031, the Korea AeroSpace Administration said Thursday, aiming to commercialize the aircraft for both civilian and military use.
Under the five-year AAV development plan, KASA expects to conduct pilot flights in 2030, followed by demonstrations for maritime transport and public safety missions in 2031. Certification processes for military and private sector use will be carried out in parallel, ensuring the aircraft can enter commercial service immediately after demonstrations.
KASA said AAVs could cut travel time between Korea's islands and the mainland to about one hour, improving mobility for island residents and supporting maritime surveillance missions against pollution and illegal fishing. The aircraft will also be tested for emergency medical transport and deliveries of urgent supplies to remote island areas, bolstering regional development efforts.
As Korea has one of the world's top 15 aerospace industries, KASA pointed out that securing a homemade aircraft platform is a key factor in nurturing its aerospace sector into a high-value-added industry.
On the same day, KASA held a public hearing for the five-year AAV development plan in Daejeon with about 100 stakeholders from relevant government bodies, companies, academic and research institutions as well as local governments.
Expert panels at the hearing noted that Korea can enter the new AAV market with high growth potential as the country can utilize its competitiveness in manufacturing key AAV technologies such as secondary batteries and semiconductors.
According to Morgan Stanley, AAVs and related service markets are projected to reach $1 trillion by 2040. With features such as low noise, eco-friendliness and vertical takeoff and landing, AAVs are considered the future of mobility as they can quickly transport passengers and goods in the air within cities and between regions.
'Because the AAV market will undergo drastic change, integrating a range of technological sectors and impacting our daily lives in the future, it is important that the industry and government join hands to swiftly pursue the project and secure the lead in the market,' said Kim Hyun-dae, director general of KASA's Aeronautics Innovation Mission Directorate.
