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You are here Business Data IAI signs MOU with Chungcheongnam-do to enter in Korean aerospace market

IAI signs MOU with Chungcheongnam-do to enter in Korean aerospace market

Israel Aerospace Industries logoIsrael Aerospace Industries (IAI) and Chungcheongnam-do, one of provinces in South Korea, have established strategic alliances in the field of aerospace and defense. According to the news, IAI invests in Chungcheongnam-do which offers them industrial lands, tax incentive on foreign investment, and etc.

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IAI have looked for helicopter manufacture company in South Korea, and Chungcheongnam-do connected UI Helicopter, located in the province, with IAI. With the cooperation between two parties, Chungcheongnam-do is expected to increase foreign capitals and promote local industries in aerospace and defense.

  • Israel Aerospace Industries (IAI) is Israel's prime aerospace and aviation manufacturer, producing aerial systems for both military and civilian usage. IAI is wholly owned by the government of Israel. 
    In addition to local construction of fighter aircraft, IAI also designs and builds civil aircraft and performs local maintenance and reconfiguration of foreign-built military and civilian aircraft. In addition, the company works on a number of missile, avionics, and space-based systems.

  • UI Helicopter was designated as a defense industry company by the government in 1990, and is currently the country's top helicopter service provider.
    UI Helicopter is the only helicopter maintenance company in the country officially authorized by both Bell Helicopter in the United States and AgustaWestland in Italy. It also signed a customer support center agreement with Sikorsky of the United States, which means it is capable of providing maintenance service for helicopters from the world's top three helicopter manufacturers. 

Source: http://www.koreatimes.co.kr/www/news/biz/2016/03/488_198223.html