SEOUL, Sept. 30 (Xinhua) -- Hyundai Motor Group, South Korea's biggest automotive conglomerate, said on Monday that it has named an executive for its newly established urban air mobility division.

Hyundai appointed Shin Jaiwon, a former engineer at the National Aeronautics and Space Administration (NASA), as executive vice president for the urban air mobility unit to task him with leading the development of flying cars.

Shin most recently led the Aeronautics Research Mission Directorate at the NASA, where he shaped the agency's aeronautics research and development strategy for over 11 years, the company said in a statement.

Headed by Shin, the new business unit will develop core technologies and innovative solutions for safe and efficient airborne travel, Hyundai said.

"Having worked on cutting-edge aviation research and development at NASA for 30 years, I am very excited and humbled by the opportunity to now shape urban air mobility strategy at Hyundai Motor Group," said Shin.

"The new team at Hyundai will develop core technologies that will establish the company as a driving force in urban air mobility, a sector that is expected to grow into a market worth 1.5 trillion U.S. dollars within the next 20 years," said the executive vice president.