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Korean Company Inks 641 billion-won Contract with Boeing | ASHARQ AL-AWSAT English Archive 2005 -2017
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The Boeing 777-200 at its world debut in 1994.REUTERS/Jeff Vinnick

Seoul – South Korea’s aircraft maker, and the only one in South Korea, said Tuesday it inked a 641.1 billion-won contract to supply a key wing component to US aerospace company Boeing for the next 13 years.

Yonhapnews news agency reported that the latest deal is equal to 20.7 % of KAI’s consolidated sales last year.

The contract will be valid till 31 December 2030.

The Korea Aerospace Industries (KAI) said it will be the exclusive supplier of wing ribs for Boeing’s new series “B777x”, until the end of 2030. Ribs are forming elements that create the structure of the wings.

The company then said it inked another 79 billion won contract with Boeing to supply pivot bulkheads for its popular B787 Dreamliner.

This contract will be effective from January 1 2022 till December 31 2028.