Deal struck at Korea-Mexico Business Forum

Partners to explore local production, technology cooperation

KAI chief vows to accelerate Central America push

Korea Aerospace Industries, POSCO International and the Mexican Federation of Aerospace Industries (FEMIA) signed a memorandum of understanding on aerospace industry cooperation at the Korea-Mexico Business Forum held in Mexico City on Friday (local time). Pictured from left: Trade, Industry and Energy Minister Kim Jung-kwan; KAI President and CEO Kim Jong-chul; FEMIA CEO Luis Lizcano; POSCO International CEO Lee Gye-in; and Mexican Economy Minister Marcelo Ebrard. [Korea Aerospace Industries]
Korea Aerospace Industries, POSCO International and the Mexican Federation of Aerospace Industries (FEMIA) signed a memorandum of understanding on aerospace industry cooperation at the Korea-Mexico Business Forum held in Mexico City on Friday (local time). Pictured from left: Trade, Industry and Energy Minister Kim Jung-kwan; KAI President and CEO Kim Jong-chul; FEMIA CEO Luis Lizcano; POSCO International CEO Lee Gye-in; and Mexican Economy Minister Marcelo Ebrard. [Korea Aerospace Industries]

Korea Aerospace Industries (KAI) signed a memorandum of understanding on aerospace industry cooperation with the Mexican Federation of Aerospace Industries (FEMIA) and POSCO International at the Korea-Mexico Business Forum in Mexico City on Friday (local time), the company announced Monday. The signing took place in conjunction with President Lee Jae Myung's state visit to Mexico.

The trilateral agreement was designed to strengthen Mexico's aerospace industry ecosystem and deepen strategic ties between the two countries, in line with "Plan Mexico," the Mexican government's national medium- and long-term economic development strategy.

FEMIA is Mexico's leading aerospace industry association, with more than 100 member companies. It plays a central role in shaping the government's aerospace policy and expanding global supply chains.

Under the MOU, KAI will explore avenues for local production, technology cooperation and supply chain localization, drawing on its capabilities in fixed-wing aircraft, rotorcraft, unmanned aerial vehicles, satellites, maintenance, repair and overhaul, and airframe structures.

FEMIA will facilitate engagement with Mexico's aerospace ecosystem, help identify vetted local partners and provide information on domestic policy developments.

POSCO International will leverage its global network to pursue business opportunities and financial cooperation, and will help local Mexican companies enter KAI's aerospace manufacturing supply chain.

KAI and POSCO International had earlier signed a strategic MOU in October last year to jointly enter global aerospace markets and build a framework for enhancing export competitiveness.

"Through cooperation with Mexico, we will accelerate the FA-50's entry into Central America and expand our export reach to the North American and South American markets," KAI President and CEO Kim Jong-chul said.


keg@heraldcorp.com