Changwon Special City and Yeongpung Electronics Join Hands to Support Advanced Aviation Industry Development

On the morning of the 21st at 10 a.m., Changwon Special City in Gyeongnam signed a business agreement with Youngpoong Electronics to foster the advanced aerospace MRO (Maintenance, Repair and Overhaul) industry for the development of the advanced aerospace MRO sector in the meeting room.

This agreement was signed with the purpose of mutual cooperation for the development and promotion of the advanced aerospace MRO industry between Changwon City, a representative hub city of South Korea's defense industry, and Youngpoong Electronics, an aerospace defense company advancing into the advanced aerospace MRO field based on excellent technological capabilities.

Changwon Special City in Gyeongnam signed a business agreement with Young Poong Electronics to foster the advanced aviation MRO industry for the development of the advanced aviation sector.

The main contents of the agreement include ▲establishing a win-win cooperative relationship in the advanced aerospace MRO offset trade business ▲discovering policies and improving systems to revitalize the advanced aerospace MRO industry ▲training advanced aerospace MRO personnel and pioneering and commercializing the global MRO market.

Youngpoong Electronics, established in 1986, is a representative defense small and medium-sized enterprise in Changwon that supplies various core equipment to South Korea’s main weapon systems. From ground, maritime, aviation, guided weapons to navigation equipment and UAM (Urban Air Mobility) preparing for the future unmanned era, it develops and supplies a wide range of products equipped with core technologies centered on drive and power control devices across various business fields.

It develops and delivers core components for domestic aircraft such as KUH (Surion), LAH (Light Armed Helicopter), KT-1, T-50, FA-50, and KF-21. In 2022, it was selected as a defense innovation company in the drone sector under the ‘Defense Innovation 100’ project led by the Defense Acquisition Program Administration.

Additionally, based on the accumulated avionics industry technology, Youngpoong Electronics is promoting the introduction of related technologies through offset trade to participate in the maintenance business of core electronic equipment used by the Republic of Korea Air Force.

The city plans to continue cooperation regarding policy discovery, system improvement, and local talent development to promote the entry and revitalization of the advanced aerospace MRO industry by local small and medium-sized enterprises, moving away from the existing industrial structure that exported weapon systems and parts. By supporting offset trade projects, which were previously promoted between central government agencies and companies, at the local government level, it aims to establish excellent cooperation cases while securing the competitiveness of the defense industry in the Changwon area, revitalizing the local economy, and creating jobs.

Mayor Hong Nam-pyo stated, “Changwon has the largest concentration of excellent companies in the aerospace parts sector in Gyeongnam, supporting the aviation industry, and with the recent realization of ‘Changwon National Industrial Complex 2.0,’ which will be developed as a convergence hub for defense and nuclear industries, we have laid the foundation for innovative growth that will lead Changwon’s next 50 years. We will actively promote policies to nurture not only ground and maritime defense but also aerospace defense as future growth engines, and actively support Changwon City to become a global aerospace MRO hub.”