Korea Aerospace Industries (KAI) declared the vision “Global KAI 2050,” calling for the company to raise sales to 40 trillion won and become a global top-seven aerospace company by 2050.
KAI held an online and off-line ceremony to declare the vision. It also announced future development strategies targeting 2050, with executives and staffers from KAI headquarters, Korean and overseas operations in attendance, on Feb. 11.
KAI President Kang Goo-young in person announced the vision and held a talk concert with his staff to facilitate communication on the vision.
KAI aims to carry on the “KAI DNA” with which homegrown aircraft, such as KT-1, T-50 and Surion had been developed with challenging spirit and passion in the past and make a quantum jump through innovation whose levels correspond to a second founding.
In the same context, KAI released its new catchphrase, “Global KAI beyond Aerospace,” during the ceremony.
KAI Enters Global Markets and Secures Future Business Engines
KAI plans to secure long-term growth momentum by overcoming domestic demand barriers, in compliance with global economic and security environment changes and expanding military and civilian demand exports.
KAI proved its potential in the European market, once considered as a wasteland for the conventional Western arms systems, by successfully exporting FA-50s to Poland in close cooperation with the government and swift responses to a rapidly changing security environment.
By making the most of the bridgehead, the company plans to expand in the European and African markets and ramp up exports to the Southeast Asian and South American markets, while widening its presence in North America centering around the United States and Oceania.
To this end, KAI will strengthen its competitive edge in global markets by implementing performance improvement tailored to meet customers’ needs, such as the FA-50 export and single-seat versions.
KAI will embark on the development of future-oriented, new platforms by declaring a shift from the past pursuer strategy to a first mover to secure growth engines preparing for the future and the next 30 to 50 years.
The company will review the development of a sixth-generation combat craft and high-mobility helicopters to cope with market responses to future fighters and ramp up air force for self-reliance of national defense and materialize development strategies to secure foundation technologies as soon as possible.
KAI plans to develop its own advanced air vehicle (AAV) platform for military and civilian use to build the ecosystem of the K-UAM through the development of eco-friendly technology, such as hydrogen and electric aircraft and future aircraft, including self-flying planes.
As for the aerospace business, KAI will expand satellite platforms focusing on mid- and large-sized ones to small and super-small ones, and enter the value-added satellite service market in order to lead a “private sector-oriented new space era.”
KAI will pour 1.5 trillion won in R&D investments for five years until 2027 and expand the money to about 3 trillion won, five percent top 10 percent of sales for the following six to 10 years.
KAI President Kang said, “If an insight, challenge, passion and creativity, which are rooted in the KAI DNA, are revived, KAI will be able to make a quantum jump as a world-class company.”
If the new vision, dubbed “Global KAI 20-50” is achieved, KAI will be Asia’s representative company, only after Boeing and Airbus, he added.
KAI Logs 2,786.9 Billion Won in Sales in 2022, an 8.8 Percent Year-On Rise.
In an electronic filing issued on Feb. 15, provisional figures showed that Korea Aerospace Industries (KAI) posted 2,786.9 billion won in sales, 141.6 billion won in operating profit and 8,744.4 billion won in winning orders last year.
KAI saw sales increase 8.8 percent compared to 2,562.3 billion won in 2021 and operating profit surge 143 percent compared to 58.3 billion won in the previous year.
Winning orders jumped 208 percent compared to 2,835.3 billion won.
KAI Strikes 1.2 Trillion Won Deal to Export FA-50 Aircraft to Malaysia
Korea Aerospace Industries (KAI) will export supersonic light combat aircraft worth 1.2 trillion won to Malaysia.
KAI struck an agreement with Malaysia's Ministry of Defense (MINDEF) to export 18 FA-50 light combat aircraft on Feb. 24.
KAI President Kang Goo-young and Air Force Chief Chung Sang-hwa visited MINDEF to sign the deal.
The latest deal came five months after KAI struck a deal to export 48 FA-50 aircraft to Poland last July.
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