ASQ6_EN-website

COUNTRY PROFILE: SOUTH KOREA
STATUS QUO
Though a relatively small business aviation market, South Korea is actively
seeking to make a name for itself among the bigger markets in the Asia-
Pacific region.
At year end 2016, there were 22 business jets based in South Korea, up
from 19 in 2015. Long range jets and corporate airliners each hold 27%
of the fleet, suggesting most use is over longer distances. However, the
shorter-range Cessna models are still the most popular, with 36% of the
market share in the country. Overall, the fleet is young, with the majority
manufactured in the past decade.
Korean Air is the largest operator in the country by far (50% of the fleet), with
11 aircraft including two BBJs, two Global Express XRS’, six Cessnas and
one G650. Samsung Group previously held the largest fleet in the country,
but sold their entire fleet to Korean Air. Samsung is now exclusively using
charter services provided by Korean Air.
Helicopter Fleet — Size Category Breakdown
Light Twin 29 (13%)
Single 59 (27%)
54+27+13+6+G
Heavy 14 (6%) Medium 121 (54%)
223
As far as jet charter, Aviation Business International Services Korea
(ABIS.KOREA) explained that business jet charter services in Korea are
geared towards the large companies based in the country, however larger
conglomerates including SK Group, Hyundai, Hanwha and LG Electronics
Helicopter Fleet —OEM Breakdown
have their own aircraft. 2016 also saw a new charter company join the
market. Star Aerospace established a charter business with the purchase
of a Cessna Citation 500.
KAI 2 (1%)
Enstrom 2 (1%)
“Most business jet charter passengers are foreigners coming out of Korea,
MD 8 (4%)
25+23+20+12+9+5+4+1+1+G
not Korean residents,” says ABIS.KOREA. “However, the Seoul Gimpo
Mil 12 (5%)
Airbus 56 (25%)
Business Aviation Center (SGBAC), the first business aviation terminal,
opened in March 2016. It was developed by the Korea Airports Corporation.
Leonardo 21 (9%)
This will help to develop the business jet market, charter and business
aviation within the country.”
Sikorsky 27 (12%)
223
Helicopter Fleet — Mission Breakdown
Bell 45 (20%)
Kamov 50 (23%)
Law Enforcement 15 (7%)
Multi-Mission 154 (69%)
Offshore 3 (1%)
Charter 2 (1%)
EMS 9 (4%)
Corporate 17 (8%)
SAR 23 (10%)
69+10+8+7+4+1+1+G
223
* Data Source: Asian Sky Group Fleet Report (Year-End 2016)
At year end 2016, there
were 22 business jets
based in South Korea,
up from 19 in 2015.
Long range jets and
corporate airliners each
hold 27% of the fleet.
FIRST QUARTER 2017 — ASIAN SKY QUARTERLY | 17