Boeing announced on Tuesday the company has signed a new partnering agreement with South Korea’s industry to expand joint research and development activities and further develop aviation technologies.
Boeing, the Korea Evaluation Institute of Industrial Technology (KEIT), and the Korea Institute for Advancement of Technology (KIAT) will collaborate on advanced production systems for commercial aircraft manufacturing, urban air mobility, aerospace semiconductors and cultivating industry talent in South Korea, the company said in a press release.
KEIT will identify South Korean companies with potential for participation, while KIAT will focus on defining areas for research, development, and commercialization of advanced components for airplanes.
Through collaboration, Boeing and research institutions will seek opportunities to cooperate across the private and public sectors. These efforts are intended to enhance the competitiveness of South Korea’s aerospace industry and strengthen Boeing’s future aerospace capabilities, the release said.
According to Boeing, the company has spent more than 4 billion U.S. dollars with over 50 South Korean suppliers over the past 15 years.
Source: Xinhua
