Hanwha Aerospace(012450) said on the 9th that it signed a win-win cooperation memorandum of understanding (MOU) with aircraft engine manufacturing partners and others to build an industrial ecosystem for "self-reliance in aircraft engine technology."
Hanwha Aerospace plans to take the lead in preparing for aircraft engine development being pursued by the government, including a 10,000-pound turbofan engine and advanced aircraft engines, by achieving joint growth with partners and related institutions.
At the Hanwha Aerospace "aircraft engine win-win cooperation MOU signing ceremony" held the day before at Changwon Convention Center in Changwon Special City, South Gyeongsang, more than 100 people attended, including key representatives from 49 partner companies in the aircraft engine manufacturing sector and related institutions.
Through this agreement, Hanwha Aerospace decided to support partner-tailored technology and job training, research and development (R&D) expenses and infrastructure, and improvements to the transaction environment.
Kim Jun-tae, head of the defense business at Hanwha Aerospace, said, "For self-reliance in aircraft engine technology, joint growth across the entire ecosystem is essential," adding, "We will do our best to develop domestically produced aircraft engines through win-win cooperation."