South Korea and Boeing, the world's largest aircraft manufacturer, agreed
Wednesday to jointly develop new materials and systems for aircraft, the Seoul
government said.
Under a memorandum of understanding (MOU) signed
between the country's Ministry of Knowledge Economy and Boeing Research and
Technology (BR&T), the U.S.-based aircraft manufacturer will launch joint
development programs with various South Korean institutes and aerospace
companies.
As part of this endeavor, BR&T and the Korea Institute
of Industrial Technology will launch a joint project to make high-performance
materials for aircraft, using eco-aluminum and eco-magnesium, which were
indigenously developed by South Korea in 2009, according to the
ministry.
BR&T will also launch a joint project with the Korea
Institute of Materials Science to develop titanium and other new, compound
materials for aircraft, along with a separate project with the country's Inha
University to develop a new health monitoring system.
Boeing has, in
addition, agreed to establish supply chains for South Korean products following
their successful development, the ministry said.
"The MOU marks a
great achievement by South Korean companies as it means their technology has
been recognized by the leader in the global aerospace industry," it said in a
press release.
"It will also offer a chance for South Korean companies
to more actively seek to expand their global market share as Boeing has agreed
to expand its use of South Korean products if they are found to meet the
company's standards."
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