Gyeongnam Junggi Office to Pioneer US Advanced Aviation and Defense Market

Promotion of Dispatching Trade Delegations to Two U.S. Regions (Washington D.C. · Huntsville)

[Asia Economy Yeongnam Reporting Headquarters, Reporter Song Jong-gu] The Gyeongnam Regional Small and Medium Venture Business Administration is planning to dispatch a trade delegation to two locations in the United States, Washington D.C. and Huntsville, this October to promote exports in the advanced aviation and defense industry sectors, which are regional specialized businesses weakened by COVID-19.

The Gyeongnam Small and Medium Business Administration is preparing to pioneer the U.S. market, an advanced defense country, this year following last year's dispatch of a trade delegation to Dubai, to support aviation and defense companies that have faced difficulties in export order activities due to COVID-19 and to help them enter overseas markets.

The regional specialized export consortium project is a collaborative effort between the Gyeongnam Small and Medium Business Administration and the Changwon Industry Promotion Agency, aimed at utilizing the development of new promising overseas markets for Gyeongnam's aviation and defense companies as a driving force for regional economic development.

The scale of participating companies is about 10, and the target participants are small and medium venture companies with excellent export potential and technological capabilities engaged in advanced aviation and defense manufacturing within the jurisdiction. The dispatch is scheduled from October 8 to 16.

The United States, the planned destination, has the world's largest budget and defense market and is evaluated as the world's fourth-largest aviation and aerospace production hub, including Korea.

As an allied and friendly country, it is favorable for joint technology development, production, and technology transfer through treaties and agreements, and it offers advantages in low costs and access to technological innovation by utilizing globalized suppliers.

Main support includes local market research, buyer discovery, production of integrated promotional materials, one-on-one buyer matching consultations in Washington D.C. and Huntsville, interpretation, and industrial site visits.

Director Choi Yeol-su said, “To gain an advantage in competition with global advanced defense and aviation companies, a ‘selection and concentration’ strategy based on clear target market selection is necessary.”

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