Korea Aerospace Industries and Eurocopter Form Joint Venture for KUH International Sales
Released on Thursday, October 18, 2007

 

Korea Aerospace Industries (KAI) and Eurocopter reinforce their industrial cooperation through the signature of a Memorandum of Understanding (MOU) on Thursday 18 October at Seoul Air Show.

The signing ceremony was graced by the presence of the CEOs from both entities: Mr. CHUNG Hae Joo (KAI) and Dr. Lutz BERTLING (Eurocopter).

The objective of the above MOU is to create a Joint Venture (JV) Company for the worldwide promotion of the Korean Utility Helicopter (KUH), a 8 metric ton class military/utility transport helicopter.

The JV will be in operation by 2010. With a shareholding structure of 51% for KAI and 49 % ownership for Eurocopter, the newly-established company will be responsible for the sale and marketing of the KUH on the export market, which is estimated to reach an order of 300 helicopters.

This signature further highlights the successful launch of the KUH program in Korea in 2006. Indeed, this is the largest defence contract ever signed with a European company. The Republic of Korea has a plan to buy from KAI, which is prime contractor for this program, around 250 KUH.

For this unprecedented program, Eurocopter role is to provide technical assistance for the development of the helicopter as well as certain sub-assemblies. About 40 Eurocopter engineers are thus housed at Sacheon (Korea) to render their ultimate technical assistance to KAI.

 

Source: Korea Aerospace Industries (KAI) and Eurocopter sign MOU for a Joint Venture company to commercialise the Korean Utility Helicopter

Resources
CEO - Chief Executive Officer
KAI - Korea Aersopace Industries
KUH - Korean Utility Helicopter
Aerospace Forces : Surion
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