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[Alpha Biz=(Chicago) Reporter Kim Jisun] The Korea Aerospace Industries (KAI) announced on the 23rd that it held a memorandum of understanding (MOU) with Vietnam's VTX at the JW Marriott Hotel in Hanoi, Vietnam.
VTX is an aerospace research and development (R&D) company that researches, designs, develops, and manufactures aerospace equipment under the Viettel Group, Vietnam's largest telecommunications company.
The signing ceremony, hosted by the Ministry of Trade, Industry and Energy, was attended by key officials from the two countries, including Minister Lee Chang-yang, Vietnamese Planning and Investment Minister Nguyen Joong, KAI President Kang Gu-young, Viettel Group Chairman Thao Duc Tang and VTX President Bu Tuan An.
Under the MOU, KAI and VTX will explore potential markets for helicopter demand in Vietnam and cooperate in the development and production of rotors. The two sides plan to form a working-level consultative group and a review committee to shape the project in the future.
Vietnam's Ministry of Transportation is planning to build six more new airports by 2030, which is expected to see explosive growth in the aviation industry after the pandemic, KAI said.
KAI said it has more than 10 helicopter platforms, while enabling various business cooperation with Vietnam with business capabilities such as development, production and follow-up support.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
