Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Visa to Move European Headquarters to London’s Canary Wharf 
Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
SK Telecom and Joby Aviation, a Californian venture-backed aerospace company, have revealed their partnership deal this week, and they are joining forces to develop flying cars. The latter is an air taxi startup firm, and along with SKT, they are aiming to expand their footing in urban air mobility services or UAM.
According to Yonhap News Agency, SK Telecom, the leading wireless service provider in South Korea, said it has signed an agreement with Joby Aviation so they can form a regular consultative team that will help them bolster cooperation in bringing air taxis to the country.
Another one of the goals for this new partnership is to create "Mobility as a Service" (MaaS) in S. Korea. This type of service will offer various things to customers, including connecting cars, connecting car platforms, and other business-to-customer services. It was added that the deal is also expected to scale up S. Korea's long-term plan to commercialize UAM services by 2025 and help reduce urban traffic congestion.
"By joining forces with Joby, a global leader in this field, we expect to accelerate our journey towards the era of Urban Air Mobility and lead the way on introducing this exciting new technology," SK Telecom's chief executive officer, Ryu Young Sang, said in a press release. "Collaborating with leading global companies is essential to securing leadership in future industries, which we are confident will be driven by the growth of UAM, autonomous driving, and robots."
Pulse News reported that SK Telecom is planning to make use of Joby Aviation's knowledge and know-how in air flight testing since it will be able to experience this with NASA at the Korean UAM Grand Challenge that will take place next year. The event is set to be hosted by the country's Ministry of Land, Infrastructure, and Transport or MOLIT.
JoeBen Bevirt, the founder and CEO of Joby, also commented on its partnership with SK Telecom. He said, "We are thrilled to be partnering with the team at SKT who brings a wealth of relevant experience and technology to the table. With more than 42 million people living in urban areas, South Korea offers a remarkable opportunity for Joby to make air travel a part of daily life, helping people to save time while reducing their carbon footprint."
