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In the aerospace industry, development is costly, not to mention risky. For many companies, failure equals collapse. This is why companies in the industry seek joint investments and collaborations to fund development.
Now, Korean aerospace companies are hoping to strengthen cooperation with their European counterparts and eventually make inroads into the European market.
To that end, 13 Korean aerospace companies held two seminars on technology cooperation and investment in France and Britain to showcase their technology and attract deals.
Representatives from GIFAS, a French aerospace industries association, and the West of England Aerospace Forum were among the participants. It was generally agreed that cooperation, both at the regional and global levels, is crucial for the industry.
Vincent Gorry, GIFAS director for international affairs, said, "Civilian aviation developed rapidly through cooperation between European companies. Airbus, for instance, was established through the joint effort of several European countries and that contributed to its takeoff."
Local companies are hoping to boost the industry in Korea, which is still in its early stages.
Many believe now is an opportune time to enter the European aircraft parts industry, as more airplane manufacturers are seeking to secure suppliers from outside the region.
Arirang News.
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