Laying the Foundation for Future Growth
by Revitalizing the Regional Economy Centered on the Aerospace Industry
Sacheon City in Gyeongnam Province announced on April 24 that a tripartite agreement for regional economic coexistence was signed at the '2025 Gyeongnam Economic Round Table' held at the Changwon Convention Center, with the governor of Gyeongnam Province, the mayor of Sacheon, and the CEO of Korea Aerospace Industries (KAI) in attendance.
This agreement is significant as Gyeongnam Province, Sacheon City, and KAI have committed to closely cooperate in revitalizing the regional economy centered on the aerospace industry and laying the foundation for future growth.
In particular, Sacheon City, which is home to KAI's headquarters, is expected to secure practical momentum for local development through this agreement, including the advancement of the industrial ecosystem, job creation, and talent cultivation.
Sacheon City, Gyeongnam Province, KAI - Group photo of the tripartite agreement for regional economic coexistence.
The main contents of the agreement include mutual cooperation in areas such as expanding employment for local residents, promoting local culture and arts, and stimulating local consumption, all aimed at achieving co-prosperity and development in the region.
KAI plans to actively pursue various forms of coexistence with the region as a result of this agreement. To expand employment, KAI supports the operation of a contract department (Department of Aerospace Convergence Engineering) at Gyeongsang National University, and is also engaged in business agreements to support Gyeongsang National University and Changwon National University in being selected as Glocal Universities.
In addition, KAI is creating jobs for local youth by operating internship programs for high school graduates, and is consistently supporting employment for low-income groups through social contribution projects such as the Jinju Free Laundromat and SV Haeori Car Wash.
In terms of supporting culture and the arts, KAI will expand its multifaceted support as a co-host of the Sacheon Air Show, including operating shuttle buses, security checkpoints, and exhibiting aircraft produced by the company.
Since 2010, KAI has been running the 'Aviation Camp' educational program for middle and high school students, as well as cultural classes for underprivileged youth, including university student field trips, the KAI Soccer School, choir, and reading classes. In addition, KAI is continuously promoting a children's book donation campaign.
KAI is also leading efforts to boost local consumption and stimulate the domestic market. On its founding anniversary, KAI purchases local gift certificates (Onnuri Gift Certificates) and prioritizes the use of local agricultural and marine products (such as rice, sweet potatoes, paprika, and lettuce) in its cafeteria.
KAI has signed agreements with local tourist facilities such as Sacheon Hackberryville Glamping and the cable car, and, together with Gyeongnam Province and Sacheon City, regularly operates industrial tourism programs such as the 'Sacheon Industry Tour' and 'Defense Industry Tour' through MOUs.
Mayor Park Dongsik stated, "This agreement marks an important turning point that will determine the next 100 years for Sacheon," and added, "We will do our utmost at the city level to ensure that this leads to tangible benefits for citizens in terms of jobs, education, and welfare."
Governor Park Wansoo of Gyeongnam also said at the signing ceremony, "KAI is a global aerospace company that Gyeongnam is proud of. Only by growing together with the region can it truly become a world-class enterprise," and emphasized, "Gyeongnam Province will actively support the creation of an economic structure where corporate growth and regional coexistence form a virtuous cycle."
Kang Gooyoung, CEO of KAI, stressed, "The aerospace industry is a technology-intensive sector, making cooperation with the region more important than anything else," and added, "We will continue to work together so that Sacheon and Gyeongnam can jointly become a global hub for the aerospace industry."
Meanwhile, Sacheon City plans to further strengthen its cooperation with Gyeongnam Province and KAI following this economic round table, and to actively pursue regional co-prosperity and development through shared growth and economic revitalization.
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