Korean Air to Invest 70 Trillion Won in the U.S., Orders 103 Boeing Aircraft

Korean Air announced on August 26 that it will order 103 aircraft from the US aircraft manufacturer Boeing. This is the largest order in the history of South Korean airlines. In addition, the company will sign a purchase agreement worth 19 trillion won with the US aircraft engine manufacturer GE Aerospace.

On the 25th (local time), at the Willard Hotel in Washington DC, USA, Kim Jungkwan, Minister of Trade, Industry and Energy (from left), Cho Wonthaek, Chairman of Hanjin Group, Stephanie Popham, President and CEO of Boeing Commercial Airplanes, and Howard Lutnick, U.S. Secretary of Commerce, posed for a commemorative photo. Korean Air
Photo by Korean Air

On August 25 (local time), Korean Air held separate signing ceremonies for aircraft and engine purchase plans at the Willard Hotel in Washington DC, USA, with the attendance of Won Tae Cho, Chairman of Hanjin Group; Stephanie Pope, President and CEO of Boeing Commercial Airplanes; Russell Stokes, President and CEO of GE Aerospace Commercial Engines and Services; and other company officials.

The company will purchase aircraft from Boeing worth 36.2 billion US dollars (50.5 trillion won). The order includes a total of 103 high-efficiency aircraft: 20 B777-9s, 25 B787-10s, 50 B737-10s, and 8 B777-8F freighters. These aircraft are scheduled to be introduced sequentially by the end of 2030.

Korean Air is also pursuing an engine maintenance service contract with GE Aerospace worth 18.2 trillion won. Over the next 20 years, the company will receive engine maintenance services for 28 aircraft. In addition, it will purchase spare engines for 11 aircraft (worth 1 trillion won). Korean Air will also purchase spare engines for 8 aircraft from CFM, another US aircraft engine manufacturer.

At the Korean Air aircraft maintenance hangar in Jung-gu, Incheon, Korean Air personnel are cleaning the aircraft fuselage featuring the new CI. Photo by Kang Jinhyung

A Korean Air official stated, "Through proactive large-scale investment in aircraft, we will secure future growth engines," adding, "We will also contribute to mutually beneficial cooperation between South Korea and the United States."