Kencoa Aerospace Selected as a 'National Representative Innovative Company'... "Aiming to Become a Top 100 Global Aerospace Company"

[Asia Economy Reporter Hyunseok Yoo] Kenko Aerospace announced on the 10th that it has been selected as one of the ‘Innovative National Representative Companies 1000’ organized by the Financial Services Commission.

The National Representative Innovative Companies project focuses on nurturing companies with innovative technologies. The Financial Services Commission, along with nine government ministries (Ministry of Trade, Industry and Energy, Ministry of SMEs and Startups, Ministry of Science and ICT, Ministry of Health and Welfare, Ministry of Oceans and Fisheries, Ministry of Land, Infrastructure and Transport, Ministry of Culture, Sports and Tourism, Ministry of Environment, and the Korean Intellectual Property Office) and policy financial institutions participate in selecting innovative companies.

Representative innovative companies are finally selected through a strict evaluation process of their innovation, technological capability, and growth potential according to the nationally established innovation growth joint standards, as well as credit evaluation by the Financial Services Commission. They are then provided with concentrated comprehensive financial support (investment, loans, guarantees, etc.) amounting to 40 trillion KRW over three years. This aims to support large-scale private investment attraction for companies with global growth potential.

Kenko Aerospace was recognized for its comprehensive technological capabilities in the global aerospace sector, including aerospace materials, space launch vehicles, passenger-cargo aircraft MRO, drones, and UAM, and was selected as a national representative company in the ‘advanced manufacturing automation sector.’

A company official stated, “Although the aviation industry as a whole is going through a difficult period due to the prolonged impact of COVID-19, Kenko is continuing stable growth by creating 70 new jobs through rapid growth in space launch vehicles and U.S. defense projects via its local U.S. subsidiary, as well as securing large-scale orders for passenger-cargo aircraft modification MRO business at its Korean headquarters, achieving a cumulative export amount of 20 million USD. As we have been selected as a national representative innovative company, we expect to further expand our technological and market competitiveness and achieve exports of 250 million USD by 2025.”

He added, “Kenko will leap forward as a high value-added cutting-edge aerospace company through business expansion via M&A in the U.S. space launch vehicle sector, expansion of global networks and acquisition of overseas core technologies, and securing design and electronic equipment technological capabilities. Based on visible achievements, we plan to become one of the top 100 global aerospace companies.”