KakaoMobility to Fund Archer’s Korean Commercialisation, with plans to purchase up to 50 Midnight Aircraft Worth $250 Million
Archer Aviation announced today that KakaoMobility (KM), Korea’s leading mobility as a service (MaaS) platform company, has signed a significant collective agreement, reports a press release.
This covers:-
: Joint participation in the K‑UAM Grand Challenge.
: Planned purchase of up to 50 Midnight Aircraft worth USD250 million including pre-delivery payments.
: Funding of Archer’s Korean commercialisation.
: Owning and operating the Midnight Aircraft in Korea, starting in 2026, by offering flights to more than 30 million registered users on its Kakao T Mobile App.
: Beginning in the City of Seoul where the average commuter spends nearly 90 minutes a day stuck in traffic.
KM, along with its consortium partners LG UPlus and GS E&C, have chosen Archer as their eVTOL partner, to ensure they reach their goal of conducting public demonstration flights in the country by late this year. KM will pay Archer USD7 million in 2024 as a first instalment to assist funding early commercialisation efforts in Korea, with a second tranche due in Q1, 2025.

The City of Seoul at Night
Christopher SungWook Chang, Senior VP of KakaoMobility, commented, “Our partnership with Archer is a leap forward for urban mobility. We can’t wait to debut Archer’s Midnight Aircraft at the K‑UAM Grand Challenge in 2024 as a commitment to transforming the daily commute for millions of Kakao T users.”
He continued, “The vision is clear. Reduce the hours lost in traffic and elevate everyday travel with an electric air taxi service that features Archer’s Midnight aircraft.”
Nikhil Goel, Archer’s CCO, added, “Archer is expanding its international launch strategy to South Korea through this landmark partnership. Together, we are committed to revolutionising transportation with Midnight, ushering in a future of cleaner, faster and more efficient travel between and within Korean cities.”
The release explains, “The consortium’s complementary strengths gives it the ability to work collaboratively to build a comprehensive approach to integrate all-electric air taxis into South Korea’s urban transportation landscape. Starting with the K‑UAM Grand Challenge, the companies intend to demonstrate how eVTOL aircraft can transform daily commutes in Korea.”
It goes on, “The collaboration will also focus on building best-in-class infrastructure, including vertiports and air traffic management systems, to ensure safe and efficient operations. The consortium is focused on bringing electric air taxis to Korea because they can play a pivotal role in achieving a more sustainable future, contributing to South Korea’s broader goals of reducing carbon emissions and promoting green technology.”
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(Top image: Archer Aviation)
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