Kenkoua Aerospace Partners with Global Engineering Firm AKKA

[Asia Economy Reporter Hyungsoo Park] Kenko Aerospace has laid the groundwork to grow into a comprehensive aircraft manufacturing company by partnering with Europe's largest aircraft design firm.

Kenko Aerospace announced on the 1st that it has signed a Memorandum of Agreement (MOA) for a strategic alliance with AKKA Technologies.

AKKA is a global large-scale engineering company with sales reaching 2.37 trillion KRW. The majority of its revenue is generated in Europe, including Germany, and North America. Of its approximately 21,000 employees, over 70% hold master's or doctoral degrees. AKKA is engaged in design and engineering projects for major finished aircraft manufacturers and automotive sectors such as Airbus, Boeing, Bombardier, and Safran. In Korea, it participated in the structural analysis of the landing gear for the K-FX aircraft model.

The MOA signed between Kenko and AKKA is not a simple Memorandum of Understanding (MOU) but a legally binding contract that stipulates mutual rights and obligations. This is the first MOA case in the domestic aircraft manufacturing market.

Through the MOA, Kenko expects to secure large-scale projects such as finished aircraft assembly and production from existing clients. AKKA will be able to utilize Kenko, which has experience in finished aircraft assembly and production, as a production base in the Asian region to secure orders that include design and mass production of products.

Kenko CEO Min-kyu Lee explained, "It is the first time in Korea that a small and medium-sized enterprise has signed an MOA with a global design engineering company in the aircraft manufacturing sector," adding, "This was possible because Kenko has its own global network." He further stated, "The strategic alliance between Kenko, which has manufacturing capabilities in the aviation sector, and AKKA, which has design capabilities, holds great significance in the aircraft manufacturing market."

CEO Lee also emphasized, "This will be the cornerstone for growing Kenko into a Risk Sharing Partner (participating from the aircraft development and design stages through to future production)," and "We plan to continuously expand our global partners."

He said, "The aircraft design function holds great importance in growing into a comprehensive aircraft manufacturing company," and added, "Based on the MOA, we will grow beyond simple aircraft parts production to become a comprehensive aircraft manufacturing company."