Korea Aerospace Industries, which produces components for European aviation giant Airbus, is planning to build a factory in Vietnam, and its executives have visited a technology park in the central city of Da Nang to check out its facilities.
Revealing this, a member of the Da Nang Hi-tech Park management, said a site has already been earmarked for the Korean company, news website VnExpress reported Monday.
According to a BBC Vietnamese report in June 2010, Korea Aerospace Industries, Airbus Corporation, and the European Aeronautic Defense and Space Company (EADS) surveyed Da Nang to set up an industrial zone specializing in aviation equipment.
The Da Nang Hi-tech Park was established later that year on an area of nearly 1,130 hectares.
In April 2012 the city People's Committee announced incentives for investment in the zone, including waiver of income tax for four years after breaking even and a 50 percent tax rebate for the next nine years.
The project will be the second in the aviation field in Vietnam. In 2009 Japan-based MHI Aerospace began manufacturing wings for the US-based Boeing in the Thang Long Industrial Zone in Hanoi.
The Chamber of Commerce and Industry of South Korea in Vietnam (Korcham) said Korean investors are switching from outsourcing to manufacturing high-tech products in Vietnam, including for the space industry.
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