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KAI signs strategic partnership with PT DI to expand its business in Indonesia.
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World Aviation Defense & Security Industry News - KAI & PT DI
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KAI signs strategic partnership with PT DI to expand its business in Indonesia
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South Korea's aircraft manufacturer Korea Aerospace Industries Ltd. (KAI) signed a strategic cooperation agreement with an Indonesian aerospace company on Friday as part of efforts to expand its business in Indonesia's defense industry.
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The strategic partnership signed with state-run aerospace company PT Dirgantara Indonesia (DI) calls for the two aerospace manufacturers to forge tighter collaboration in the fields of munitions for the defense and private sectors as well as unmanned aerial vehicles, according to KAI officials.
The heads of the companies signed the agreement in Indonesia's defense ministry in Jakarta earlier in the day. Through collaboration in aircraft development and production, they will jointly seek entry into a new market, according to the agreement. The companies will also hold two sessions of a joint committee meeting every year, the officials said. The two companies are the contract manufacturers of South Korea's US$15.5 billion fighter jet development project, which the country will officially kick off in partnership with the Indonesian government. Indonesia will bankroll 20 percent of the development of the Korean Fighter Experimental (KF-X) project in order to gain access to the new combat jets. With the latest agreement, KAI will be able to make inroads into the depot maintenance market for the Indonesian air force as well as other aerospace sectors in the country, the South Korean firm said. "The strategic partnership of the two countries will guarantee the success of KF-X and entry into a new market," KAI President Ha Sung-yong said. "It will be a win-win deal for the two countries' aerospace industries to become a new growth engine for the countries' economic growth." |
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