Governor Kim Moon-soo vows to contribute to strengthening the competitiveness of the local aviation parts industry.

Gyeonggi-do has managed to win a 50 million USD investment from the aviation parts company in the US.
Gyeonggi-do Governor Kim Moon-soo, who is visiting the US, has signed a three-party MOU with Gerry Huh, chairperson of ERokies NAG, and Mun Seung-yun, president of eRAP Korea Co., Ltd., at the Double Tree hotel in New York on March 24.

eRAP will invest 50 million USD (20 million USD as foreign direct investment) for the next 5 years in the Pyeongtaek Eoyeon Hansan Industrial Complex to build a new factory for aviation electronic parts and hire 300 new employees to work in the 22,423㎡ factory.

The contract will enable core parts in aviation and defense industries – which had to depend on manufacturers outside of Korea so far – to be manufactured locally for the first time and even exported; thus replacing expensive imported parts.

The company also plans to establish a cooperation network with global powerhouses such as Boeing, Eurocopter, and Heico to improve electronic parts technologies for planes and accumulate know-how so that it can eventually contribute to the competitiveness of the Korean aviation industry.

Currently, the global aviation industry market is valued at approximately 400 billion USD, and growth of up to 600 billion USD by year 2020 is forecast by industry experts.

According to Governor Kim Moon-soo, the aviation industry, utilizing cutting-edge technologies, is closely linked with other infrastructure industries such as machinery, automotive, and IT and is expected to record surprising growth in the near future. “The Gyeonggi-do Government will provide the best and optimal support to the industry and the companies so that such growth can be achieved,” he said.

Governor Kim visited the Fairfax county government center, and then proceeded to the Korean Bell Garden to check the Bell of Peace donated by Gyeonggi-do in 2011.