Boeing To Establish F-15K MRO Facility In Korea

Boeing along with six other companies such as Curtiss-Wright and Almost Heroes announced their intention to invest $380 million in South Korea.

“The decisions of the seven U.S. corporations demonstrate their trust in the South Korean economy without regard to various uncertainties in the country,” Minister of Trade, Industry and Energy Yoon Sang-jick qas quoted as saying while on a visit to the United States.  

“Based on the new administration’s resolute diplomatic and security policies, we will make active and strategic efforts to attract foreign direct investment (FDI),” he added. 

Boeing will channel $120 million to establish a maintenance, repair and overhaul (MRO) center for F-15K Slam Eagle avionics components in Yeongcheong, South Gyeongsang Province, according to the Korean Times.

The company has already signed a memorandum of understanding (MOU) with the provincial authorities and purchased land for its first MRO facility in Asia. 

“The investment will boost Korea’s aerospace industry. We also expect that Korea will be able to become Boeing’s MRO hub in the Asia-Pacific region,” the minister added.. 

Yoon did not disclose the other four U.S. companies that will invest in Korea. But he said that they will bring $250 million into the country in sectors such as solar cells, leisure facilities and logistics centers.