Planes of South Korea’s top carrier Korean Air Lines Co. are parked at Gimpo International Airport in western Seoul on May 26, 2020. (Yonhap)
SEOUL, July 1 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest airline, on Wednesday signed a memorandum of understanding with major oil refiner Hyundai Oilbank Co. for the establishment of an eco-friendly aviation fuel ecosystem.
Bio-aviation fuel that is composed of grains, plant material, seaweed or animal fats can reduce carbon emissions by up to 80 percent compared to existing aviation fuels.
The eco-friendly fuel, however, has yet to be commercialized due to its high cost – it is more than three times more expensive than existing aviation fuel – and a shortage of production and refueling infrastructure.
Against this backdrop, the two parties decided to actively cooperate to create and invigorate the domestic ecosystem for manufacturing and using bio-aviation fuel as well as to promote market research and R&D activities in this area.
In 2017, Korean Air operated an aircraft from Chicago to Incheon International Airport using an aviation fuel that was mixed with biofuel extracted from plants, a first among Korean airlines.
M. H. Lee (mhlee@koreabizwire.com)
