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COUNTRY PROFILE: SOUTH KOREA<br />
FUTURE EXPECTATIONS<br />
The notion that<br />
business aviation<br />
and business jets<br />
are exclusively for<br />
the wealthy must<br />
be erased.<br />
For a country amidst scandal and turmoil, the upcoming 2018 Winter<br />
Olympics in Pyeongchang is a chance for the country to showcase its<br />
capacity.<br />
“With the opening of the dedicated facility last year at the Gimpo<br />
Airport, the interest in business aviation is gradually rising, including<br />
policy makers that are managing the industry, potential customers for<br />
business jets and suppliers that provide the products and services,” says<br />
Kim. “We predict a substantial increase of potential customers, including<br />
major enterprise business owners, but also small and medium-size<br />
enterprises, especially in the manufacturing field, IT and service.”<br />
For the industry to continue to grow, Kim believes the notion that<br />
business aviation and business jets are exclusively for the wealthy<br />
must be erased and business aviation needs to be seen as “an industry<br />
contributing to creating jobs and creating economic growth. Business<br />
jet use should be nurtured in Korea, and considered as an efficient tool<br />
for business.”<br />
“Investment from the government should continue, and regulations<br />
for business jets should be developed further,” claims Kim. “This<br />
is to build a foundation for an environment that the public will be<br />
exposed to, so that they will fully understand the industry and acquire<br />
an increased awareness. When this happens, we will grow fast like<br />
Mainland China and Hong Kong has.”<br />
Fleet by Age<br />
223 in Total<br />
20<br />
18<br />
16<br />
14<br />
12<br />
10<br />
8<br />
6<br />
4<br />
2<br />
0<br />
1957<br />
1958<br />
1958<br />
1960<br />
1961<br />
1962<br />
1963<br />
1964<br />
1965<br />
1966<br />
1967<br />
1968<br />
1969<br />
1970<br />
1971<br />
1972<br />
1973<br />
1974<br />
1975<br />
1976<br />
1977<br />
1978<br />
1979<br />
1980<br />
1981<br />
1982<br />
1983<br />
1984<br />
1985<br />
1986<br />
1987<br />
1988<br />
1989<br />
1990<br />
1991<br />
1992<br />
1993<br />
1994<br />
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2000<br />
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2007<br />
2008<br />
2009<br />
2010<br />
2011<br />
2012<br />
2013<br />
2014<br />
2015<br />
2016<br />
Year of Manufacture<br />
20 | ASIAN SKY QUARTERLY — FIRST QUARTER 2017
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