Korea Aerospace Industries (KAI) has proposed to support the development of South Korea's national aerospace sector over the coming decade and beyond.
KAI said its 'aerospace industry development strategy' is intended to support the growth of small and medium-sized (SMEs) enterprises in South Korea and to increase the size of the country's aerospace market to KRW20 trillion (USD18 billion) by 2030. In 2015 the reported size of the market was about USD5 billion.
The plan was announced by senior KAI officials in Seoul on 17 January and confirmed to Jane's by KAI on the same day.
According to KAI the strategy hinges on greater levels of collaboration across South Korea's aerospace industry.
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