Changwon Bangsan Small Giant Company Yeongpung Electronics Holds Opening Ceremony for Second Business Site

A Platform for Becoming a Global Defense Powerhouse
with Technology Transfer Agreement Signed with Hensoldt Germany

Changwon City, Gyeongnam Special City announced on the 5th that the completion ceremony for the second plant of Yeongpung Electronics, a local defense parts development company, was held.

Young Poong Electronics, Second Plant Completion Ceremony.

Yeongpung Electronics' second plant was completed after purchasing the factory located on the current site in July last year and expanding it to three floors to accommodate the increase in defense business orders and the expansion of new businesses. The building will play a pivotal role in overseas cooperative projects.

The event was attended by about 70 people, including Hong Nampyo, Mayor of Changwon Special City; Kim Taegon, International Cooperation Officer of the Defense Acquisition Program Administration; Ryu Myeonghyeon, Director of the Industry Bureau of Gyeongnam Province; Eugen Maier, Vice President of Hensoldt Germany; Francois Piolet, Head of Thales France; representatives from Lockheed Martin USA; and key domestic defense officials.

In the afternoon, a technology transfer agreement for aircraft black box technology was signed with Hensoldt, a global defense company from Germany. This contract is regarded as a tangible outcome following the 2023 memorandum of understanding between Changwon City and advanced aviation MRO industry promotion. It holds great significance as it established an excellent cooperation case through the support of the local government, Changwon Special City, for offset trade projects previously promoted between central government agencies and companies.

Contract for technology transfer of aircraft black box with German company Hensoldt.

Since its establishment in 1986, Yeongpung Electronics has been a representative small and medium-sized defense company in Changwon, supplying various core equipment to the Republic of Korea Armed Forces' representative weapon systems. It develops and supplies a wide range of products equipped with core technologies, focusing on drive and power control devices across various business fields, from ground, maritime, aviation, guided weapons to navigation equipment and urban air mobility (UAM) in preparation for the future unmanned aerial vehicle era.

Additionally, based on the technological expertise accumulated in the avionics industry, the company has been steadily promoting the introduction of related technologies through offset trade to participate in the production and maintenance business of domestically required core avionics equipment.

Hong Nampyo, Mayor of Changwon Special City, stated, “Amid the global spotlight on the growth of K-defense, the role and importance of local small and medium-sized defense companies are becoming more prominent. The city has been doing its utmost in institutional improvements and administrative and financial support for the sustainable innovative growth of the defense industry. We will continue to make every effort so that local defense small and medium-sized enterprises, armed with outstanding technology like Yeongpung Electronics, can be properly recognized in the global market.”

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