Invest KOREA

KOTRA supports domestic aerospace companies' entry into the supply chain of Boeing

'Boeing Aerospace Industry Forum Korea 2023', a 3-day forum jointly organized by Boeing, Sacheon-si, Gyeongnam Technopark (Gyeongnam TP), kicks off on Apr. 3rd
It unlocks new opportunities in reshaped industrial supply chains, potential technologies in the future aerospace industry, and cooperation in export and investment

'Boeing Aerospace Industry Forum Korea 2023', co-convened by KOTRA (President Yu Jeong-yeo), Boeing, Sacheon-si, Gyeongnam, and Gyeongnam TP will take place in Park Hyatt Busan from 3-6 April 2023.

The forum is expected to bring in wide access to supply chains of future growth engine, the aerospace and defence industry, and create more opportunities in attracting investment in domestic startups of high-tech sectors and making coooperation in research and development. About 45% of the domestic participants are new entrants in Boeing's supply chain. With high expectations for identifying new clients and technological cooperation, 30 members of Boeing headquarters will visit Korea.

Boeing, one of the global leading aerospace companies, has built a cooperation network with a number of domestic businesses after founding Boeing Korea in 1988. It also opened Boeing Korea engineering & Technology Center (BKETC) in Seoul, accelerating R&D in strategic technologies with Korea.

The forum starts with Boeing's talks on △ the market outlook on the aerospace industry, △ global supply chain strategies, △ future innovative technologies in the aerospace industry. Boeing Korea President Eric John said "Korea and Boeing have built an inseparably solid relationship for the last 70 years." and "Taking the opportunity of this forum, I look forward to our greater commitment and partnership with Korea's aerospace industry, which will eventually present abundant areas for cooperation."

Participants also can enjoy open innovation events designed to seek cooperative opportunities in R&D and investment attraction for domestic startups. On the first day, AEI HorizonX (Boeing's corporate venture capital arm) and BKETC will introduce emerging technologies and collaboration in technology development, and on the second day, they will discuss measures to pursue cooperation in investment and R&D with around 20 Korean startups specialized in △ mobility, △ next generation energy, △ digital twin, △ network security.

"Collaboration with global companies will present our businesses with a good momentum to join the global supply chains of equipment, parts, and materials and the defense industry." said Jung Oe-young, head of KOTRA Innovation & Growth. He added, "We will continue to support overseas market entry of domestic corporations in equipment, parts, and materials and investment attraction by identifying promising global partners."



Source : Invest KOREA (Apr. 3. 2023)