Gyeongsangnam-do has established the 'Basic Plan for Fostering the Gyeongnam Aerospace Industry' (Photo: Gyeongsangnam-do)

Gyeongsangnam-do announced that it has established a basic plan to foster the Gyeongnam aerospace industry (hereinafter referred to as the basic plan) to overcome the economic crisis of Corona and secure competitiveness in the global aviation market by establishing the growth base of the Gyeongnam aerospace industry.

By fostering the aviation industry, we will find new businesses necessary for overcoming difficult economic difficulties due to the prolonged Corona 19 and revitalizing the economy and creating jobs, preempt new opportunities in the post-corona era, and actively respond to strategic countermeasures based on paradigm changes in the aerospace industry.

In the meantime, the proportion of aerospace industry in Gyeongnam has played a role as a growth engine for regional economic development as a base area, which accounts for 65.4% of the gross domestic product. However, the impact of the global aviation industry downturn, such as the recent B737max crisis and the production reduction of global OEM due to the prolonged Corona 19, has been directly or indirectly hit, and the aviation industry ecosystem is in danger of collapse.

The basic plan set up 68 projects in four areas: strengthening international competitiveness through building a global competitiveness base for the aircraft industry, revitalizing exports of finished aircraft, establishing a future-type air vehicle development base for preempting the PAV/UAM market for the international hub of the aviation MRO, and creating an ecosystem for the growth of aerospace SMEs in order to overcome the aviation industry crisis and realize the aerospace industry center city in Gyeongnam with the vision of realizing the smart manufacturing base of the 2030 global aerospace industry. The total investment forecast for the year is 1.49 trillion won, and it plans to consult and request with central ministries and institutions.

In addition, we will strengthen our international competitiveness through the establishment of a global competitiveness base for aviation companies, revitalize export of complete aircraft, international hub of aviation MRO, build a foundation for future air vehicle development for preemption of PAV/UAM market, and create an ecosystem for growth of aerospace SMEs.

“This basic plan is expected to provide a foundation for strengthening technological competitiveness of the aerospace industry and to take the opportunity to prepare for the global value chain of aerospace (GVC) to be reorganized after Corona19,” said Kim Young-sam, director of the Department of Industrial Innovation in Gyeongsangnam-do. “We expect Gyeongnam to play a role as a parts supply base for global OEM companies, so that Gyeongnam can be reborn as a base for the aerospace industry in Northeast Asia. “We will do our best.

”Meanwhile, it is expected that the production inducement will be about 13.985 trillion won, value-added inducement about 3.95 trillion won, and about 41,350 jobs will be created when the project is promoted by strategy for the next 10 years.