Korea invests in electric aircraft

Korean telecommunications company SK Telecom has invested US$100 million in electric aircraft specialist Joby Aviation.

“Our partnership with SKT places Joby in the best possible position to capitalize on the opportunity presented by the Korean market, where we continue to see a strong drive from the government to realize aerial ridesharing,” said JoeBen Bevirt, Joby founder and CEO.

“We will do our utmost to promote the demonstration and commercialization of urban air mobility in Korea, based on our partnership with Joby Aviation,” said Ryu Young-sang, CEO of SKT. “This technology promises to greatly reduce customers’ travel time and we look forward to turning Korea into a mobility powerhouse.”