KOREA AEROSPACE INDUSTRIES LTD
Korea Aerospace Industries was established on 1 October 1999 by consolidating the aerospace business of Daewoo Heavy Industries. Samsung Aerospace and Hyundai Space & Aircraft to create a single, unified aircraft manufacturer. In 2000, the Korean government designated KAI as the sole specialised aerospace defence industry in Korea, with exclusive and preferential rights in Korean aerospace defence programmes. Daewoo, Hyundai and Samsung each have a 28.1 per cent holding, with remaining 15.7 per cent held by creditors. KAI is headquartered in Seoul and operates three plants and three research facilities in the Sacheon and Changwon areas; total workforce was more than 3,200 in January 2003.
Business activities span both military and commercial sectors. Defence industry participation includes KT-1 basic trainer, T-50/A-50 advanced trainer, Korean Fighter Programme Phase 2, UAVs, Korean Multipurpose Helicopter (KMH) and Maritime Patrol Aircraft (MPA) programmes. In the commercial aircraft sector, KAI produces helicopters and exports airframe components.
Present and recent subcontract work includes A319/A320 wing top panels and A380 bottom panels for Airbus; wing rib assemblies for Boeing 747-400; stringers for Boeing 737/747/757; wing trailing-edges for Boeing 757/767; horizontal tail surfaces and trailing-edges for Bombardier de Havilland Dash 8; long-term contracts with Boeing, Airbus, Vought and Bombardier to produce and supply major aerostructures. MoU with Boeing in February 2003 for exclusive manufacture (2004 to 2010) of fuselages for AH-64 Apache attack helicopter; potential contarct value US$350 million.
Signature of MoU between Daewoo and Korean Air Lines (KAL) announced late August 2003, under which KAL to purchase former's stake in KAI for between 102 and 130 billion won (US$86 million to US$110 million) within next few months. Negotiations with other potential investors (notably Hyundai, Samsung and EADS) continuing in early 2004.
Contact Details
HEAD OFFICE: Seosomun-dong, Jung-gu, Seoul 100737, South Korea
Tel: (+82 2) 20 01 31 14
Fax: (+82 2) 20 01 37 77
Website: www.koreaaero.com
CHANGWON PLANT: Seongju-dong, Changwon, Gyeongsangnam-do 641120
Tel: (+82 55) 280 61 14
Fax: (+82 55) 285 23 83
SACHEON PLANT 1: Yucheon-ri, Sanam-myeon, Sacheon, Gyeongsangnam-do 664942
Tel: (+82 55) 851 10 00
Fax: (+82 55) 851 10 05
SACHEON PLANT 2: Yongdang-ri, Sacheon-eup, Sacheon, Gyeongsangnam-do 664802
Tel: (+82 55) 851 29 99
Fax: (+82 55) 854 86 38
