Korea Aerospace Industries (KAI) recently held its 11th Supplier Symposium on April 27-28 at the Paradise Hotel in Busan.
KAI has been organizing such symposiums every two years since 2000 to strengthen its strategic partnerships with overseas partners.
The event was attended by 169 presidents and officials from over 100 overseas companies, including major players like Lockheed Martin, Airbus Helicopters, Raytheon, BAE Systems, and Martin-Baker.
Apart from the overseas partners, the Korean government, including the Ministry of Trade, Industry and Energy, the Defense Acquisition Program Administration, and the Air Force, also participated in policy discussions on the future development direction of the domestic aerospace industry.
Kang Gu-young, the president of KAI who was visiting the US, addressed the symposium via video, saying "We will build a system where production companies and partners can work closely together and support each other as one team."
The symposium provided a forum for in-depth discussions on KAI's future vision, the business progress of major partners, and the direction of development based on the Korean government's policies for the aerospace and defense industry.
KAI entered into mutual exchange and cooperation agreements with major partners to secure cost competitiveness and awarded excellent partners.
KAI signed Memorandums of Understanding (MoUs) with three companies, Raytheon, Arconic, and BAE Systems, to ensure stable material supply and demand and cost competitiveness through mutual exchange and the establishment of a joint cooperation system.
This move is expected to secure the stable supply and cost competitiveness of materials and parts required for the T-50 and Surion, which are currently in mass production, and the KF-21 and LAH, which will begin mass production within a few years.
Ten companies were awarded as excellent partners, selected based on their contribution to major KAI projects like KF-21, TA-50, Surion, and LAH.
Meanwhile, KAI plans to strengthen its export competitiveness based on strategic partnerships with its partners and challenge the world's largest US market.
Last year, KAI succeeded in exporting 48 FA-50s to Poland and 18 to Malaysia earlier this year, leading K-Defense exports. KAI formed a consortium with Lockheed Martin and is preparing to participate in the U.S. project for up to 500 training aircraft and tactical introductory aircraft for the U.S. Air Force and Navy.
