Space Aviation Agency Supports Formation of "Team-Korea" as 30-Year Growth Engine for Aviation Manufacturing Industry

Sharing Strategies for International Joint Development of Commercial Aircraft
and Gathering Industry Opinions

The Space Aviation Agency has stepped forward to support the formation of "Team-Korea," an initiative to consolidate the capabilities of domestic aviation companies, lead negotiations with commercial aircraft manufacturers, and ensure the fair distribution of secured orders.

On June 26, the agency held a meeting at its main conference hall to discuss the promotion of international joint development (RSP) of commercial aircraft. Together with global commercial aircraft manufacturers and the domestic aviation industry, the agency engaged in in-depth discussions on strategies for forming "Team-Korea" and directions for policy support.

Space Aviation Agency. Photo by Yonhap News

The "RSP (Risk Sharing Partnership)" is a business framework in which domestic aviation manufacturers participate in joint development, share development costs and risks, and exercise long-term (approximately 20 to 30 years) delivery rights for developed items during mass production. Team-Korea is the organizational structure responsible for ensuring the fair distribution of orders and other related tasks after securing RSP projects.

This meeting was organized to explore strategies for domestic companies to participate in joint development in the next-generation global commercial aircraft development market. The Space Aviation Agency shared international case studies and industry trends, providing the domestic aviation manufacturing sector with an opportunity to prepare for the future.

Industry participants exchanged views on establishing an efficient RSP implementation system, the need to create an RSP-dedicated fund, and ways to expand exports. They also requested increased government investment in research and development to secure the necessary technological capabilities for RSP participation, and called for lowering financial barriers to ease the burden of facility construction.

Han Changheon, Director of the Aerospace Industry Bureau at the Space Aviation Agency, stated, "We will carefully review the opinions raised today to develop policy support measures and work closely with the industry to ensure the successful implementation of the RSP project, which will serve as a key growth engine for the domestic aviation manufacturing sector over the next 30 years."