SEOUL, South Korea - Hyundai Motor Group has appointed Dr. Jaiwon Shin as Executive Vice President and Head of its newly established Urban Air Mobility Division. An internationally renowned aeronautics engineer, Dr. Shin who worked at NASA for 30 years, will lead the company into a new era of developing smart mobility products within the aviation industry.
"The new team at Hyundai will develop core technologies that will establish the company as a driving force in urban air mobility, a sector that is expected to grow into a market worth $1.5 trillion within the next 20 years," Dr. Shin said.
Urban Air Mobility is expected to become a critically important part of the integrated mobility solution for ever-increasing traffic problems in mega cities around the world. Through the Urban Air Mobility Division, Hyundai Motor Group aims to provide innovate and smart mobility solutions never seen or thought of before.
Dr. Shin most recently led the Aeronautics Research Mission Directorate at NASA, where he shaped the agency's aeronautics research and development strategy for over 11 years. His expertise in revolutionary airframe, engine, aviation safety, and air traffic management technologies will allow Hyundai Motor Group to take a lead in the fast-growing urban air mobility sector. The new business unit will develop core technologies and innovative solutions for safe and efficient airborne travel.
During his time at NASA, Dr. Shin oversaw a $725 million program to lead many new aeronautics research initiatives, such as supersonic X-plane, electrification of aircraft, UAS traffic management, and Urban Air Mobility.