South Korea Accelerates Plans for Flying Cars

To boost its flagging economy, the South Korean government announced it will invest US$50 billion (60 trillion Korean won) in the next decade to develop autonomous, electric, and flying cars.

The investment is intended to shave three years off the current expected development time for flying cars slated for 2030 to instead be ready by 2027. The expectation is that the investment will create jobs and spur exports from the Asian nation.

A route system and safety rules for VTOLs is also being readied for 2023 with implementation planned for 2025.