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KOTRA successfully wrapped up a four-day 'Bell Textron Defense Industry GP DAY' opened on Aug. 16
KOTRA (President & CEO Yu Jeoung-yeol) held 'Bell Textron Defense Industry Global Partnering(GP) Day' in Busan and Sasheon, Gyeongnam for four days starting from Aug. 16, to help companies in material, part, and equipment for the aerospace industry enter the U.S. market.
Overview of the Bell Textron Defense Industry Global Partnering(GP) Day event
- Date/Location : Tuesday, Aug. 16 - Friday, Aug. 19, 2022 / Busan, Sacheon
- Participants : 12 companies in helicopter material, part, equipment including jigs and body parts of helicopter
- Content : Delivery/Supply Partnering consulting event, vendor registration, signing MoUs for supply contract * Defense Industry GP Day : After analyzing key export products of domestic companies in defense industry, we invite large international defense manufacturers, and support the companies' entry into GVCs through partnering consultation. (No Participation Fees)
At the event, a technology general manager at the headquarters of Bell Inc., conducted an in-depth consulting with 12 domestic companies found jointly with KOTRA Dallas, and an inspection of manufacturing facilities. Most notably, Bell signed, on the site an MOU with two key part companies to supply key parts worth USD 16 million.
John Lichtenfels, senior manager at Bell said, "Bell and Korea have maintained cooperative relations over 50 years. Since the country is our important partner in the aerospace industry, we plan to build partnerships with more Korean companies going forward," expressing satisfaction with the results of his visit to Korea.
"The defense industry market has a high entry barrier, though once you have a presence in the market, then you would secure stable demand sources and references," said Jung Seok-jin, chief of KOTRA Korea Defense Industry Trade Support Center.
Bell Textron is one of top three helicopter manufacturers in the U.S. (with sales of USD 3.3 billion as of 2021), and the first global company that developed private helicopters. In Korea, the manufacturer is known for the first presidential helicopter(UH-1H) and transport helicopter(H-13) that carried the wounded soldiers during the Korean War.
Source : Invest KOREA (2022.08.18.)