KAI, Lockheed Martin to team up for large utility helicopter

Korea Aerospace Industries Ltd. (KAI) and the US-based Lockheed Martin Corp. have agreed to collaborate on entering the special operations large utility helicopter project for the South Korean military.

KAI and Lockheed Martin-Sikorsky signed a letter of intent (LOI) for building a strategic partnership and exploring potential business areas and cooperation at Lockheed Martin's booth at the "Seoul International Aerospace and Defense Exhibition 2023" (ADEX 2023), which is being held at Seoul Air Base in Gyeonggi Province.

The two companies plan to establish a cooperation system to promote the special operations of large utility helicopter projects in the domestic market and create opportunities for joint business ventures.

"Through this collaboration, we will enhance synergy effects in both the domestic and global markets with Lockheed Martin-Sikorsky," KAI's Chief of Global Business and Strategy Cho Woorae said.

"We are confident that, together with KAI, we can provide the South Korean military with helicopters that are highly effective and innovative in technology for the next 30 years," Dana Fiatarone, Vice President of Marine Corps Systems at Lockheed Martin-Sikorsky commented.

South Korea's Defense Acquisition Program Administration plans to secure dozens of special operations large rotary-wing helicopters from 2023 to 2031, investing 3.7 trillion won ($2.74 billion) in the project. Lockheed Martin's multi-purpose large helicopter, known as King Stallion (CH-53K) within the industry, and Boeing's CH-47F Chinook helicopter are expected to compete.

Write to Mi-Sun Kang at misunny@hankyung.com