The KC-330, the first aerial refueling aircraft in the South Korean Air Force built by Airbus (Image courtesy of the Ministry of National Defense)
SEOUL, May 10 (Korea Bizwire) – The industry ministry said Friday it has inked a memorandum of understanding with Airbus SE for the European aerospace giant to launch a new research and development (R&D) center in South Korea.
Industrial Policy Director General Lee Seung-ryeol reached the agreement during his meeting with Francisco Segura, the chief operating officer at Airbus Defence and Space, in Seoul, according to the Ministry of Trade, Industry and Energy.
The envisioned International Technology Center came after South Korea formally asked the defense and space arm of Airbus to establish an R&D center in the country in November 2022.
The new center will serve as the platform to expand the cooperation between Airbus and South Korean firms in the civil aircraft and helicopter industries as well, it added.
Airbus plans to select the region for the new center within this year.
The government and Airbus also discussed ways to expand bilateral ties in the aviation, space, and defense sectors, the ministry said.
“The Airbus ITC is expected to serve as the hub for South Korea’s global cooperation in the aviation, space and defense sectors,” Lee said.
“South Korea aims to promote ties with global R&D projects with Airbus, as the country intends to invest around 400 billion won (US$292 million) in the development of materials, parts and equipment in five major areas of defense, including in artificial intelligence, chips and space,” Lee added.
(Yonhap)
