S.Korea, Boeing tie up for develop future advanced weapons

The Korean Defense Acquisition Program Administration (DAPA) teams up with major US defense contractor Boeing to conduct research and development on advanced weapon systems in preparation for future warfare.

DAPA Minister Dong-hwan Eom signed a memorandum of understanding for joint research and development of advanced weapon systems with Theodore Colbert, CEO of Boeing's Defense, Space & Security, on Thursday.

Both parties plan to select target projects within the year, focusing on the core capabilities of future battlefields utilizing Fourth Industrial Revolution technologies, according to DAPA. To effectively drive the collaboration, a high-level committee and working-level task force will also be established.

This joint R&D will be carried out as part of offset trade with Boeing. Offset trade refers to a trade in which technology transfer or reverse export of domestic components is offered as a condition when importing weapons from abroad.

This is a consolidation of various offset trades with Boeing into joint research and development of advanced weapon systems, and DAPA explained that it aims to develop offset trade into a new form of industrial cooperation.

DAPA also emphasized the need for cooperation with international defense companies to develop and secure high-value advanced weapon systems and export markets, and added that Boeing could establish a stable value chain by utilizing Korea's excellent production capabilities amid the restructuring of its global supply chain.

Write to Dong-Hyun Kim at 3code@hankyung.com