Samsung Aerospace, Daewoo Heavy Industries, and Hyundai Space and Aircraft merge to form Korea Aerospace Industries (KAI)
- Predecessor
- Daewoo Heavy Industries (Aerospace Division)
- Predecessor
- Hyundai Space and Aircraft Company
- Predecessor
- Samsung Aerospace Industries
- Created organization
- Korea Aerospace Industries (KAI)
Event context
Under South Korean government direction following the 1997 Asian financial crisis, the aerospace/aircraft businesses of Samsung Aerospace Industries, Daewoo Heavy Industries, and Hyundai Space and Aircraft Company were consolidated into Korea Aerospace Industries (KAI), launched Oct 1, 1999. Confirmed via English Wikipedia and Korean-language sources (Korea Aerospace Industries, ko.wikipedia.org; Busan Ilbo).