Gyeongnam Province Invests 45.6 Billion KRW in Aerospace Sector to Establish Space Industry Foundation

Park Jong-won, Deputy Governor for Economic Affairs of Gyeongnam Province, Visits Aerospace Company.
[Image Source=Gyeongnam Province]

[Asia Economy Yeongnam Reporting Headquarters Reporter Ju Cheol-in] Gyeongsangnam-do announced on the 6th that it will invest 45.6 billion KRW in the aerospace sector this year to advance the aviation industry and establish a foundation for the space industry.

Projects include the establishment of a smart engineering infrastructure for aircraft structures, support for the development of domestic commercial technologies in aviation information and communication technology (ICT), and industrial infrastructure creation and technology development such as aviation parts equipment and process improvement.

Additionally, the Gyeongnam Aviation Industry Support Group will be operated to support increased orders and sales for aviation companies, and efforts will be accelerated to expand workforce training projects to strengthen the competitiveness of the Maintenance, Repair, and Overhaul (MRO) industry and to expedite the early establishment of a dedicated industrial complex.

Based on last year’s survey of corporate demand, detailed implementation plans will be derived from the basic plan for the establishment of the Gyeongnam Space Industry Cluster, further specifying the space industry promotion strategy. Through this, Gyeongsangnam-do aims to take a leading role in achieving the government’s goal of becoming one of the world’s top seven space powers by 2030.

To promote development in the aerospace sector, on this day, Deputy Governor Park Jong-won visited leading domestic aerospace companies located in western Gyeongnam, including Jinju ANH Structure, Sacheon AST, Korea Aviation Service, and Korea Aerospace Industries, to discuss Gyeongnam’s aerospace industry development strategy and listen to on-site feedback.

Deputy Governor Park said, “We will do our best to establish effective corporate support policies that reflect on-site voices well so that the aerospace industry, a key industry of Gyeongnam, can take a leap forward.”

This content was produced with the assistance of AI translation services.