Korean Air Partners with Boeing and GE on 48 Trillion Won Deal... First Joint Diplomatic Move by Korean and US Ministers

Korean Air Signs Agreement to Strengthen Cooperation with Boeing and GE Aerospace
Minister Ahn Deok-geun and Secretary Howard Lutnick Attend Ceremony

Korean Air held a signing ceremony to strengthen cooperation with Boeing and GE Aerospace in the United States. Notably, Minister Ahn Deok-geun of the Ministry of Trade, Industry and Energy and U.S. Secretary of Commerce Howard Lutnick jointly attended, making this event the first face-to-face economic diplomacy occasion involving ministers from both Korea and the U.S. since the inauguration of the second Trump administration.

On the 21st (local time), Cho Won-tae, Chairman of Hanjin Group, Kelly Ortberg, President of Boeing, and Russell Stokes, President of GE Aerospace, held a signing ceremony in Washington D.C., agreeing to embark on large-scale cooperation.

This event was organized to formalize mutual cooperation intentions ahead of the main contract signing for aircraft and engine purchases. Through the agreement with Boeing, Korean Air plans to introduce 20 Boeing 777-9 aircraft and 20 Boeing 787-10 aircraft by 2033, including an option to acquire an additional 10 aircraft under similar conditions, pursuing a total contract worth $24.9 billion.

With GE Aerospace, they agreed to pursue a contract worth $7.8 billion, including the acquisition of 8 preliminary engines (including 2 option engines) and cooperation on maintenance services.

The total contract value for Korean Air amounts to approximately $32.7 billion, equivalent to about 47.97 trillion KRW.

The signing ceremony is regarded as a starting point symbolizing expanded cooperation between the two countries across various industries beyond aviation, such as semiconductors, shipbuilding, and energy. Especially with Ministers Ahn and Lutnick attending side by side, this event is recorded as a meaningful occasion where ministers from both countries officially shared the economic diplomacy stage for the first time since the launch of the second Trump administration.

Minister Ahn evaluated, "Through this aircraft and engine cooperation, Korean Air has gained the momentum to leap into the global top 10 airlines," adding, "It will further activate material and human exchanges between Korea and the U.S. and serve as an opportunity for the government to continuously support industrial cooperation between the two countries."