Boeing [NYSE: BA] has announced the company´s intention to establish a new research center in the Republic of Korea; the company is currently in discussion with the Korean government regarding the center opening, the company said.
The research center will focus on accelerating autonomy, artificial intelligence, avionics, analytics, smart cabin, smart factory and other technologies for future aerospace products.
Boeing and the Republic of Korea have a solid history of working together dating back to 1950. Boeing Korea was established in 1988 and currently employs more than 200 people across nine Korean cities: Seoul, Incheon, Busan, Gimpo, Icheon, Seosan, Daegu, Sacheon and Yeongcheon. Korea represents one of the top 10 largest international markets for Boeing, and partnerships in both the commercial airplane and defense markets help support the growth of the Korean aerospace industry.
Boeing plans to staff the center with locally hired technology experts when the facility opens this year in a location to be announced at a later date, with the cooperation of the local government.
In 2017, Boeing spent more than USD 400 million with Korean companies. Currently more than 48 Korean companies provide products and services for Boeing production and sustainment programs, research and development, and a broad range of internal services that support Boeing operations. Boeing remains committed to helping Korea address its industrial and technology development needs and has shown continuous and incremental commitment toward Korea, spending USD 3.5 billion to date over the past 10 years.