EADS Inducts South Korea As New Partner

As defense budgets across the world feel the pressure of the on-going financial crises, EADS has announced its decision to help South Korea build its own fighter aircraft. As Korea plans to spend $7.9 billion in acquiring 60 advanced fighter jets, the European Aeronautic Defence and Space Company (EADS) has welcome Korea as a new partner. According to local media report, EADS officials at the biennial international aerospace exhibition acknowledged that their company, a consortium of four-European firms, has little chance of defeating the two U.S. defense giants in Korea due largely to political and other considerations. But said that the new partnership will allow Korea to recognize “its long-cherished dream of developing and exporting the world’s most affordable twin- engine combat aircraft”. “The Eurofighter consortium has the willpower to share the work with other partners. This is one very important thing that differentiates it from other competitors,” Berndt Wunsche, head of EADS’s combat air systems, said in an interview with The Korea Times. Wunsche added that all four of the European partners have reached an agreement not only to share a significant portion of the work with Korea but also to transfer the necessary technology for its indigenous jet program. “We are used to sharing not only work, but also knowledge,” he said. “We welcome Korea as our new partner”.