Invest KOREA

Held Industrial Forum and Export·Investment Consultation in connection with the "Aerospace & Defense Meetings Torino 2023" on November 28-30
Seek opportunities for Korean companies to enter the Italian market with the expansion of digitalization and decarbonization of the Italian aerospace industry

KOTRA (President Yu Jeoung-yeol) and Jeju Special Self-Governing Province (Governor Oh Young-hoon) participated in the Aerospace & Defense Meetings Torino 2023: ADM), which was held in Torino, Italy on November 28-30.

The ADM exhibition is a leading exhibition in the European aerospace and defense industries held biennially since 2008, where international experts come together to actively engage in business meetings and networking.

Italy is the world's seventh-largest and Europe's fourth-largest aerospace industry powerhouse in terms of sales and focusing on ▲ aircraft, spacecraft, satellite fuselage, and related components ▲ radar, flight data recorders, engine controllers and ▲ maintenance services.

KOTRA collaborated with Jeju-do, the Korea Aerospace Research Institute (KARI), and Perigee Aerospace (private space start-up) to respond to the demand for cooperation with Italy and expand the opportunity for Korean companies to enter the aerospace industry.

KOTRA has also been pushing for a "Global Partnering (GP Project)" in the aerospace sector by finding cooperation demand from global companies such as Boeing (US) and Airbus (Europe) and helping Korean companies enter the global supply chain.

Ahn Hye-young, head of the investment promotion team at Jeju-do's corporate investment division, introduced Jeju Island as "the best place to lead the private space and satellite industry in Korea due to its geographical characteristics," and expressed his expectations for the event, saying, "We will extensively promote Jeju Island as a promising investment destination in Korea at this exhibition where leading global companies in the aerospace industry will be gathered"

Ambassador Lee Sung-ho to Italy also said in his opening speech, "The aerospace field was also discussed as a major area for practical cooperation between the two countries when Italian President Mattarella visited Korea in November," adding, "I hope today's event will serve as an excellent opportunity for companies from the two countries to cooperate."

Hong Jeong-ah, head of KOTRA's Milan Office, said "Italy's aerospace industry is a prominent growth engine industry for the future, with active facility investment and R&D in digitalization and decarbonization," adding, "we will continue to do our best to help our companies create new opportunities by entering the Italian aerospace industry"


Source : Invest KOREA (Dec. 01, 2023)