S.Korea, Airbus plan to open domestic tech research center

South Korea and European aircraft maker Airbus Group will open a technology research center in the country and discuss boosting cooperation in supply chains. 

The Ministry of Trade, Industry and Energy in Seoul on Wednesday said Joo Young-joon, deputy minister of the ministry's Office of Industrial Policy, held talks with Johan Pelissier, head of Airbus Defence and Space's (DS) Asia-Pacific operations, on expanded cooperation between Korea and the company.

The meeting's purpose was to implement the agenda discussed in November last year between Minister Lee Chang-yang and Airbus DS CEO Michael Schoellhorn.

The two sides covered in their meeting the setup of an Airbus international technology center (ITC) in South Korea; joint development of civil and military aircraft and small satellites; cooperation in exporting domestically made aircraft to Western Europe; launch of an annual meeting on Airbus' supply chains; and signing of a memorandum of understanding between the ministry and Airbus DS.

The ministry said cooperation between Airbus and domestic companies with proven outstanding technology in aerospace will expand along with synergy effects after the launch of the domestic ITC.

In addition, both sides discussed holding an annual meeting on Airbus' supply chains to expand cooperation in supply chains and advanced technology between domestic companies and Airbus Group. Seoul also requested Airbus' participation in a ministry-proposed aerospace industry fund.

Airbus DS said it is conducting a feasibility review of items like location and partner institutions under the goal of opening the ITC in the second half of the year. It will also examine whether to participate in the fund.

Write to Han-Shin Park at phs@hankyung.com