2007-10-21 - Eurocopter and KUHEurocopter to market Korean helicopter
Absichteserklärung zm KUH unterzeichnet<br /> Korea Aerospace Industries (KAI) and Eurocopter reinforce their industrial cooperation through the signature of a Memorandum of Understanding (MOU) on Thursday 18 October at Seoul Air Show.
The signing ceremony was graced by the presence of the CEOs from both entities: Mr. CHUNG Hae Joo (KAI) and Dr. Lutz BERTLING (Eurocopter). The objective of the above MOU is to create a Joint Venture (JV) Company for the worldwide promotion of the Korean Utility Helicopter (KUH), a 8 metric ton class military/utility transport helicopter. The JV will be in operation by 2010. With a shareholding structure of 51% for KAI and 49 % ownership for Eurocopter, the newly-established company will be responsible for the sale and marketing of the KUH on the export market, which is estimated to reach an order of 300 helicopters. This signature further highlights the successful launch of the KUH program in Korea in 2006. Indeed, this is the largest defence contract ever signed with a European company. The Republic of Korea has a plan to buy from KAI, which is prime contractor for this program, around 250 KUH.