Incheon City Expands Market Access in Aviation Industry with Global Companies

Conference and Export Consultation for the Aviation Industry to be Held on the 24th-25th

Incheon Mayor Yoo Jeong-bok is delivering a congratulatory speech at the 'Aviation Industry Conference and Export Consultation' held on the 24th at the Sheraton Grand Incheon Hotel. [Provided by Incheon City]

[Asia Economy Reporter Park Hyesook] Incheon City has embarked on expanding market access with global aerospace companies to foster the aerospace industry, a future new growth sector.

From the 24th to the 25th, the city will hold an 'Aerospace Industry Conference and Export Consultation' at the Sheraton Grand Incheon Hotel in collaboration with the Ministry of Trade, Industry and Energy and the Korea Aerospace Industries Association.

This event marks the first aerospace consultation meeting held in Incheon. Through a conference with leading global aerospace companies, the latest aerospace projects will be introduced, and by strengthening industrial cooperation systems such as export consultations, offset trade, and information sharing, it aims to serve as a turning point for the development of Incheon's aerospace industry.

The conference will feature participation from world-renowned aerospace companies including Airbus (European aerospace and defense corporation), Safran (French aircraft engine developer), Bell Helicopter (U.S. aerospace manufacturer), Northrop Grumman (U.S. aerospace and defense manufacturer), Dassault Systemes (French aircraft manufacturer), GE Aviation (U.S. aircraft engine manufacturer), and Skyports (UK urban air mobility).

Additionally, seven global foreign companies including Airbus and 47 domestic aerospace companies such as Hanwha Aerospace and Darwin Friction will hold one-on-one export consultations.

This will provide opportunities for orders, marketing, and business in the aerospace sector, and is expected to be a venue to discuss joint technology development and parts manufacturing export plans between global aerospace companies and domestic firms.

At the opening ceremony, Incheon Mayor Yoo Jeong-bok emphasized, "Incheon, home to the world's best international airport, will lead the future of Korean aviation through challenges and continuous support, soaring as a world-class city."

Meanwhile, Incheon City has been actively working on pioneering market access and attracting maintenance facilities related to the aerospace industry.

Since 2017, by participating in the London Farnborough and Paris Air Shows and operating a joint exhibition hall for Incheon aerospace companies, Darwin Friction, a specialized manufacturer of aircraft brake pads located in Namdong Industrial Complex, Incheon, has achieved exports worth $6.3 million over the past four years to four countries including the UK.

Furthermore, Incheon has attracted projects such as the cargo aircraft modification business of Israel's IAI (Israel Aerospace Industries), the aircraft heavy maintenance center of the U.S. company ATLAS, and the Korean Air engine maintenance cluster, with business commencement scheduled for 2025.

The city plans to establish an Incheon-style aerospace industry ecosystem by 2025 and focus on nurturing the aerospace industry as Incheon's next-generation core industry, aiming to grow it into Asia's top aerospace maintenance industry hub.

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