President Orders Task Force for Next-Gen Airliner Joint Development

President Lee Jae-myung on July 3rd directed the formation of a dedicated team for the international joint development of next-generation civilian aircraft during the 5th National Space Committee meeting held at Gyeongsang National University in Jinju, South Gyeongsang Province. This directive emphasizes that South Korea's leap into a superior industrial powerhouse requires this strategy amidst a global shift in the aerospace industry from state-led research to a focus on capital and market dynamics.

The National Space Committee, established under the Promotion of Space Development Act, is the highest deliberative body for South Korea's space development policies, reviewing space development matters and coordinating government-wide space development projects. The President chairs the committee, which comprises 13 civilian members and 13 government members. During the meeting, the 'Strategy for Fostering South Korea's Aerospace Industry,' including plans to create a southern coast aerospace industry belt, was deliberated. Proposals were also made regarding private and military cooperation projects, improvements to technology regulation systems, and the establishment of a policy advisory body.

President Lee, referencing committee member Kim Jong-chul's suggestion about foreign leaders' high interest in advanced technologies, ordered the formation of the task force. For improvements to the regulatory system, he called for consideration of introducing a fast-track procurement system for defense acquisition. This directive to form a dedicated team for the international joint development of next-generation civilian aircraft signifies the government's intent to concentrate investment in the aerospace industry, viewing it as a cornerstone of national security and a future growth engine.

The government plans to foster an environment where innovative companies and scientists and engineers can pursue challenges freely and boldly, leading to a significant leap forward in the nation's aerospace industry. South Korea has expressed its ambition to move beyond being merely a technology developer and assume a leading role in the global aerospace industry ecosystem. The formation of the task force for next-generation civilian aircraft international joint development will pave the way for related technological advancements and international cooperation, serving as a stepping stone to explore new market opportunities for domestic companies. It reflects the government's strategic judgment to inject new vitality into the overall national economy by leveraging the aerospace industry as a new growth driver.