Commercial UAM Services to Debut in 2025
Finance Minister Hong Nam-ki said on June 4 that the government will foster the urban air transportation industry and commercialize urban air mobility (UAM) services based on drones in 2025.
"We will enact a special law and lift regulations to foster the air transportation industry," Hong said at a meeting of economy-related ministers. "Transporting passengers or goods through drones is a new growth engine industry that is expected to grow into a market of 730 trillion won by 2040."
Hong said that the government will support the development of the new industry by improving regulations and providing infrastructure, while leaving technology development and commercialization to the private sector.
The government said it will first test cargo transportation through drones in consideration of safety issues. To this end, it will seek to enact the "Special Act on Air Traffic in the City." But before the act is enacted, the government will use regulations on drones. "We will design transportation licenses, insurance systems and profit-sharing systems that can be applied to urban air transport systems," Hong said.