The Ministry of Trade, Industry and Energy announced that it has entered into a memorandum of understanding with Airbus SE, paving the way for the establishment of a new research and development (R&D) center in South Korea. The agreement was reached between Industrial Policy Director General Lee Seung-ryeol and Francisco Segura, Chief Operating Officer at Airbus Defence and Space, during their meeting in Seoul.
Following South Korea's formal request to the defense and space division of Airbus in November 2022, an International Technology Center is now in the works. Reports stated that this center, envisioned to be established, will not only focus on research and development but also act as a catalyst for strengthening collaboration between Airbus and South Korean companies in the civil aircraft and helicopter sectors.
Airbus is set to finalize the location for its new center within the current year, according to reports. The government, in conjunction with Airbus, has engaged in discussions aimed at broadening mutual cooperation in aviation, space, and defense industries, as stated by the ministry.
"The Airbus ITC is expected to serve as the hub for South Korea's global cooperation in the aviation, space and defence sectors", Lee said. "South Korea aims to promote ties with global R&D projects with Airbus, as the country intends to invest around 400 billion won $292 million) in the development of materials, parts and equipment in five major areas of defence, including in artificial intelligence, chips and space", Lee further added.