Boeing

Boeing [NYSE: BA] today signed a teaming agreement with Korean Air Aerospace Business Division to establish a new Asian Support Center that will offer comprehensive life-cycle maintenance and service for military aircraft around the world.

The Asian Support Center will provide front office, customer support, engineering, repair management, and comprehensive warehouse services, as part of a larger Global Support Network. Located close to Gimhae Airport near Busan, Korea, the Center will begin providing components for the CH-47 Chinook helicopter and eventually expand to other military aircraft.

"We are pleased to join Boeing in this important effort," said S.M. Suh, president of Korean Air Aerospace Business Division. "By establishing this operational base in the Republic of Korea, Boeing will certainly enhance its position in Asia by engaging our people, our technical expertise and our customer knowledge. This agreement represents a plus for Korean Air and the Asian region as well as Boeing."

"Our agreement with Korean Air provides us with a firm foundation for progress in the increasingly vital military support market and enhances Korea's position as the Logistics Hub of Asia," said David Spong, president, Aerospace Support, for Boeing.

"Starting our operation with the Boeing Chinook makes the most sense as it is in service with the Republic of Korea Army and Air Force and is widely used by other Asian countries such as Taiwan, Thailand and others," continued Spong. "The experience we gain from providing regional support for the Chinook will facilitate expansion of a wide array of support services for the Chinook and other Boeing military aircraft.

"Boeing has unmatched resources to ensure that military aircraft of all kinds can operate more efficiently and effectively through our comprehensive support network, and our investment into the Republic of Korea allows continued growth within the support market," Spong concluded.