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INTERVIEW Moviation brings private jet travel into mainstream in Korea
Moviation CEO Shin Min, right, speaks during an interview with The Korea Times at the company's office in Seoul's Gangnam District, Tuesday. At left is the company's chief strategy officer, Lee Mi-hyun. Courtesy of Moviation
By Ko Dong-hwan
Startup introduces on-demand booking, standardized pricing, luxury services
Moviation is shaping Korea’s private jet market, which has often been neglected.
The market exists mostly under the radar. Until recently, there was no online platform to book flights or browse detailed information about services. Accessing such services was only possible through a middleman, without standardized pricing, and arranging flights typically required several days.
With its platform Vonaer, Motivation is bringing the previously reclusive market into the broader consumer sphere. Beyond flight booking, the Seoul-based firm emphasizes luxury and customization for every journey. CEO Shin Min recognized that customers today value time enhanced by services they feel they deserve — not just a ride.
“Through Vonaer, customers can request a flight within 24 hours and communicate with us in Korean, rather than English. Our prices remain consistent regardless of whether it's peak or off-peak season. Such prompt, standardized services were unheard of here before,” Shin said in a recent interview with The Korea Times.
“We have more than 10 partner airlines outside Korea, with nearly 1,000 planes in total. Unlike major airlines, private jets can fly the shortest possible route. Some of our jets are even able to fly over Russia, with the country’s approval, saving hours of flight time — a route currently off-limits to major airlines due to the ongoing military conflict with Ukraine."
Moviation benchmarked Flexjet, based in Ohio, which has gained market share in the United States by competing with the more established NetJets through luxurious accommodations and premium pricing.
Moviation VIPs onboard a Falcon 8X private jet during a test flight at the Seoul Gimpo Business Aviation Center, March. Courtesy of Moviation.
“Those who value upscale quality and added benefits over competitive pricing choose Flexjet. When LVMH invested $800 million last month to acquire a 20 percent stake in Flexjet, we realized it was the company’s quality-focused services that attracted the high-end fashion conglomerate,” said Lee Mi-hyun, Moviation's chief strategy officer.
The private jet market in Korea remains small. While the U.S. market is valued at 40 trillion won ($28.5 billion) and the Asian market 3 trillion won, Korea alone is only 200 billion won, according to Shin. However, he added that Korea’s market is expanding at the fastest pace in the world.
“The number of users at the Seoul Gimpo Business Aviation Center, a terminal dedicated to private jets, has doubled this year compared to last year. The number of high-net-worth individuals in Korea is also expected to double by 2028. While demand for private jets is rising, supply is critically short,” Shin said. “What we focus on is fulfilling both the hardware and the software, or the jets and the hospitality services."
Through Vonaer, Moviation currently offers domestic air taxi services using helicopters. The company plans to strengthen its capabilities in urban air mobility (UAM) starting in 2028, when commercialization of electric vertical take-off and landing aircraft is expected.
“Our accumulating data from private jets in terms of booking process, cabin services and partnership network will be applied to the air taxi business,” Lee said.
“The Ministry of SMEs and Startups last year selected our company for its funding program, which means the government acknowledged our service and hospitality capabilities in the UAM industry. What we have been emphasizing to the government is the importance of market growth and customer experience in this industry. We plan to advance the sector in greater detail through collaboration with the government and our industry partners.”