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RoK aerospace, aircraft project lands at Da Nang’s Hi-Tech Park

The Republic of Korea (RoK)’s KP Aero Industries will start building a 20,000sq.m factory with an investment of 480 billion VND (20 million USD) at the central city’s Da Nang Hi-Tech Park, to produce and supply various parts for the aircraft industry.
RoK aerospace, aircraft project lands at Da Nang’s Hi-Tech Park ảnh 1A factory in Da Nang City's Hi-Tech Park. RoK's KP Aero Industries will soon start building an aircraft factory with an investment of 480 billion VND (20 million USD) at the park. (Photo courtesy of Long Hau Corporation)
Da Nang (VNS/VNA) – The Republic of Korea (RoK)’s KPAero Industries will start building a 20,000sq.m factory with an investment of 480billion VND (20 million USD) at the central city’s Da Nang Hi-Tech Park, toproduce and supply various parts for the aircraft industry.

A source from the city’s planning and investment department saidthat the project would start construction in the first quarter of 2024.

It said the factory was designed for producing aft body, APU door,MIC wing tip, raked wing tip, wing box, winglet, flap fairing support andaircraft metal fabrication facilities for Boeing 737, 787 and Boeing 737 Max intwo phases.

The factory plans to begin the first investment phase in the fourth quarter of2024 and reach full capacity manufacturing by the second quarter of 2029.

The Korean investor had earlier inked an agreement on support and investmentpromotion, education, manpower employment and research with partners includingthe Da Nang Hi-tech Park and Industrial Zones Authority; the Da Nang Universityof Science Technology under Da Nang University; and Korean Air in May of 2023.

KP Aero Industries produces and supplies parts for Boeing, Airbusand Korean Air company.

This is the second investment project in aviation and aerospace technologies inthe park, after the Da Nang Sunshine Aerospace under the Universal AlloyCorporation from the US, put into operation in 2020.

The RoK ranked in the five top foreign investors in the city, with 233 projectsworth 378 million USD in the ICT and hi-tech industries.

The RoK’s LG Electronics started building its R&D centre, the second inVietnam, in Da Nang, while Samsung began establishing the Samsung InnovationCampus (SIC) at the city’s Duy Tan Private University, and supporting twobusinesses – Trung Nam Group and Tan Long Paper and Package Company – inbuilding the first smart factories in the city.

Partners from Vietnam and Korea boosted co-operation and development ofArtificial Intelligence (AI) technology toward making Da Nang a centre ofglobal AI innovation.

The Vietnam-Korea Friendship Information Technology University began trainingthe first 500 semiconductor and chip design engineers in central Vietnam in2024-27.

To date, the Hi-Tech Park has 28 projects, of which 12 are FDI projects (worthtotal 702.24 million USD), and 16 domestic projects at a total investmentof more than 7 trillion VND (280 million USD)./.
VNA
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