The government plans to expand exports of domestic aviation components to $4.5 billion by 2020 in the global aircraft market that requires state-of-the-art technology.

Minister of Trade, Industry and Energy Joo Hyung-hwan attended a business conference between domestic parts makers and Boeing on the 20th at the Westin Chosun Hotel in Seoul and said, "We plan to expand aviation parts exports from $1.8 billion in 2015 to $4.5 billion in 2020 through strengthening aviation parts capabilities and global cooperation."

At the meeting, a memorandum of understanding (MOU) was signed between the Korea Institute of Industrial Evaluation (KEIT) and Boeing to develop continuous cooperative relations such as joint technology development. With this MOU, Boeing will purchase development products along with technical support needed to develop aviation material components, while KEIT will discover and support necessary technology development tasks.

This project is organized by T4L (in Gyeongsangbuk-do Gyeongsan-si), a textile composite material company. Starting as a venture company in 2001, the company developed projectile parts and compressed natural gas containers using high-strength, high-function superfibers based on the technology of fabric automation machines. Braiding (fiber-twisting machine), which weaves various kinds of thick threads such as carbon fibers to make necessary shapes, is the best in Korea. We also developed 3D application machines that improved production speed and quality.