Newly inaugurated President Ahn Hyun-ho of Korea Aerospace Industries (KAI) delivers his inauguration speech as he took office as the 7th KAI president at the KAI headquarters in Sacheon, Gyeongsangnam-do, on Sept. 5. (Photo: KAI)

Newly inaugurated President Ahn Hyun-ho of Korea Aerospace Industries (KAI) said, “KAI will make all-out efforts to expand exports and explore new businesses.”

Ahn, former vice minister of the processor of the Ministry of Trade, Industry and Energy (MOTIE), made the remarks as he took office as the 7th KAI president at the KAI headquarters in Sacheon, Gyeongsangnam-do, on Sept. 5. He said KAI will build a foundation to exploring new lucrative business opportunities.

On the same day, KAI held an extraordinary shareholders’ meeting and a board of directors’ meeting to appoint Ahn as the 7th KAI president. His term is three years. KAI’s president election recommendation committee tapped former trade and industry vice president Ahn on Aug. 21, citing that Ahn, versed in industry development policies and with wide understanding of overseas markets, is recommend as someone who is qualified to lead the Korean aerospace industry.

In his inaugural speech, President Ahn said, “As the national and global economies are entering a long-term recession, uncertainties are getting higher.”

He stressed that industries and companies which fail to achieve innovation amid the paradigm shift into the 4th Industrial Revolution will disappear. He called for KAI executives and staffers to join forces, saying that they should not rest on the current situation and continue to push innovation to enhance added values of products and services.

President Ahn also pointed out that KAI will ramp up efforts to promote marketing activities and reduce unit prices while expanding R&D activities on new technologies and exploring new businesses.

He also stressed a way of fostering an industry ecosystem by promoting shared growth with customers and its cooperative partners to boost the growth of the whole of the Korean aerospace industry.

“KAI will cultivate SMEs, strengthen competitiveness by building an industry ecosystem to rise to a leader of the global aerospace industry,” he said.

He emphasized that KAI should be reborn into a new growth engine that will drive the Korean economy. He urged his executives and staffers to create an environment in which they can work with a sense of pride.

Upon his inauguration, President Ahn toured aircraft reduction sites and R&D centers to give KAI officials words of encouragement. Ahn, who is a former vice minister of the Ministry of Knowledge Economy - which is now the Ministry of Trade, Industry and Energy - has been a public servant for 30 years. He has a bachelor’s degree in trade from Seoul National University.

He also served as executive vice chairman of the Korea International Trade Association (KITA) and president of Korea Polytechnic University.