The development paves the way for Joby to participate alongside SKM in Korea's "K-UAM Grand Challenge," led by the Korean Ministry of Land, Infrastructure, and Transport, to foster the adoption of aerial ridesharing in Korea.
"We're grateful for SKT's commitment to Joby and look forward to working with them as we develop a transformational air taxi service for Korea," said JoeBen Bevirt, founder and CEO of Joby Aviation.
The investment is part of an expanded partnership between the two companies. Joby and SKM first signed a strategic collaboration agreement in February 2022.
"We will do our utmost to promote the demonstration and commercialization of urban air mobility in Korea, based on our partnership with Joby Aviation," stated Ryu Young-sang, CEO of SK Telecom.
"This technology promises to greatly reduce customers' travel time and we look forward to turning Korea into a mobility powerhouse," Young-sang added.
Price Action: JOBY shares are trading higher by 17.4% to $10.52 in the premarket session on the last check Thursday.
Photo Via Company
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
