The United States is perhaps one of the best countries to start an urban air mobility company. You only have to look at how fast well-funded startups like Joby Aviation, Wisk Aero and Lillium are building and testing electric vertical takeoff and landing, or eVTOL, aircraft.
However, South Korea, which lacks the venture capital, entrepreneurial ecosystem and aerospace legacy of the U.S., might be the first to lay the groundwork for taking urban air mobility (UAM) from an expensive science project into a viable service.
In 2020, the South Korean government set out its road map to commercialize air taxis by 2025, a goal that has since empowered mobility-focused private companies to form consortia dedicated to that end. Now, in addition to carmakers, seemingly unlikely players — think telecommunications companies and ride-sharing platforms — are pushing the UAM industry forward.
The unusual suspects
It’s not a stretch to ima …
