thyssenkrupp Aerospace has signed a three-year contract with South Korean aircraft manufacturer Korean Aerospace Industries (KAI).
From early 2021, thyssenkrupp Aerospacewill supply materials for KAI’s civil and military programs and will also manage supply chains. This will allow the company to further expand its presence in the Asia-Pacific region.
“The long-term agreement at fixed prices will allow us to realize cost savings for our partner and contribute to increased efficiency in the supply chain,” said Hyun Soo Jee, Country Manager. ” “In addition to price stability, KAI can call up selected materials just-in-time. This helps KAI to reduce the capital tied up in inventory and to concentrate mainly on its core business of machining and assembling.”
KAI, founded in 1999, the company, is a joint venture between Samsung Aerospace, Daewoo Heavy Industries and Hyundai Space and Aircraft Industry. The company manufactures aircraft and helicopters for civil and military purposes and is also involved in the development of satellites and launch vehicles.
Since 2015, KAI has been developing the first prototype of a South Korean stealth fighter aircraft (KF-X), one of South Korea’s most important national defense projects. The system development, which is to be completed by 2026, involves 16 universities, 11 laboratories and 553 suppliers.
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