In a groundbreaking initiative to advance South Korea’s aerospace industry, FDH Aero has signed a cooperation agreement with Sacheon City to grow and promote the country’s emerging space sector.
The country established the Sacheon-based Korea Aerospace Administration (KASA) in May this year to support the country’s ambitious plans to send robotic landers to the moon and Mars within the next two decades. It also aims to pursue emerging space technologies, such as asteroid mining and satellite data utilization.
FDH, a California-based provider of supply chain solutions for aerospace and defense customers, will deliver consulting services for Korea's nascent space industry and lead the development of joint space projects both in the region and across the globe. The agreement takes effect immediately and will last at least two years.
“Our operations in the region have seen tremendous growth in recent years, and we are committed to leveraging our knowledge and connections to foster industrial cooperation and establish a global supply chain for Korea’s aerospace and defense industry,” said Cody Ho, FDH Aero's managing director for the Asia-Pacific region.
Dae-Woong Jeong, director general of Sacheon City Bureau Aerospace Industry, said the partnership with FDH will “accelerate the growth of Korea’s space industry expertise.”
The Korean government has announced plans to form joint projects with other space research organizations, including NASA, and explore the possibility of economic cooperation with emerging countries that do not yet have formal space programs. It hopes that KASA will lead to the creation or further development of more than 2,000 aerospace companies, the creation of 500,000 quality jobs, and a significant presence in the global market, estimated at $291 billion.