6 Aerospace Companies Visit Korea for Investment

The six aerospace manufacturing companies from the U.S. and Europe that signed a memorandum of understanding(MOU) on investment into a joint corporation of three Korean manufacturers will visit Korea in succesion.
Sources from the joint company stated on May 20 that the six companies will send inspection teams before early next month to assess Samsung, Hyundai and Daewoo's factories and look into their on-going business operations.
They will also meet with public officials to exchange opinions on a government support plan for the aircraft industry.
According to the schedule, representatives from DaimlerChrysler Aerospace(Dasa) from Germany already arrived in Seoul on May 17. Prior to Dasa's visit, the president of 'Korea Aerospace Industries', the merged company of the three domestic manufacturers, visited Europe and the U.S. to sign an MOU with the six aerospace companies in March.
Aerospatiale and Dassault of France, U.K.-based British Aerospace and Marconi, Lockheed Martin from the U.S., along with Dasa, are expected to invest 200 million dollars into the joint company.
A source in the joint company said, 'We plan to regularly negotiate after the approval of creditor banks and attract further foreign capital by the end of this year.'

Jooan Kang : jooan@joongang.co.kr