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Boeing has signed with the Republic of Korea to jointly research, develop, and market advanced weapons systems of mutual interest.
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The ROK Defense Acquisition Program Administration Minister, Eom Dong-hwan, signed the memorandum of understanding with Boeing Defense, Space & Security president and chief executive officer Ted Colbert on 13 April.
The two parties will establish working committees to meet regularly and identify weapons systems of mutual interest.
Colbert said working with the Defense Acquisition Program Administration (DAPA) enables Boeing to partner with a global innovation leader, while expanding its presence in Korea.
“For over 70 years, Boeing has been committed to its partnership with Korea,” he said.
“This agreement aligns with Boeing and DAPA’s common interest of establishing a strategic partnership to support the US-ROK alliance.”
DAPA has committed to support research, development, and export of the defence systems from this co-development initiative.
This effort also directly supports ROK President Yoon Suk-yeol’s national defence strategy in developing and securing Korean advanced military capabilities.
“This joint effort will have a positive impact on the Korean defence industry, especially small and medium sized companies, by creating large-scale value from the initial state as part of Boeing’s global value chain,” said Eom.
Boeing has previously spent more than US$4 billion with Korean suppliers over the past 15 years. The company spent over $250 million on products and services with over 50 Korean companies in 2022.
The ROK is also attending the Defense Trilateral Talks with US and Japan officials at the US Department of Defense on 14 April.
