KAI wins US$557 million contract to supply wing component to Boeing
SEOUL, July 11 (Yonhap) -- South Korea's sole aircraft maker said Tuesday it won a 641.1 billion-won (US$557 million) contract to supply a key wing component to U.S. aerospace company Boeing for the next 13 years.
The Korea Aerospace Industries (KAI) said it will be the exclusive supplier of wing ribs for Boeing's new series of wide-body twin-engine jet airliners, the B777x, until the end of 2030. Ribs are forming elements that create the structure of the wings.
The latest deal is equal to 20.7 percent of KAI's consolidated sales last year.
The company then said in a separate regulatory filing that it inked a contract with Boeing to supply pivot bulkheads for its popular B787 Dreamliners. This contract is worth 79 billion won and is effective from Jan. 1, 2022, through the end of 2028.
KAI already has a contract with the aerospace giant to supply the same parts through 2021. The new agreement effectively extends the end date.
(END)
-
1 
'D-2' by BTS' Suga debuts at No. 11 on Billboard 200
-
2 
Vietnamese dairy firm Vinamilk enters S. Korea
-
3 
Gov't to inspect retail logistics centers for infection risks: PM
-
4
(LEAD) S. Korea braces for more infections in greater Seoul area
-
5
(2nd LD) S. Korea moves to limit classroom crowding amid persistent outbreak in capital area
-
1 
'D-2' by BTS' Suga debuts at No. 11 on Billboard 200
-
2 
(2nd LD) S. Korea moves to limit classroom crowding amid persistent outbreak in capital area
-
3 
S. Korea to test QR codes at nightclubs, eateries, cinemas to contain virus
-
4 
Sporadic infections linked to small churches put authorities on edge
-
5
Gov't to inspect retail logistics centers for infection risks: PM
-
1 1st clinical trials for COVID-19 vaccine in S. Korea to kick off
-
2 
(3rd LD) Church-tied virus cases stoke concerns over new wave of infections in greater Seoul
-
3 
(LEAD) Greater Seoul under threat of further spread, high alert over 'silent' virus spreaders
-
4 
K-pop artists throw support behind Black Lives Matter movement in U.S.
-
5 
S. Korea can now 'choose' between U.S., China: ambassador
