Agreement with Sacheon city further strengthens FDH Aero's presence in the APAC region and bolsters Korea's nascent space industry

First aerospace supplier to sign an MOU with Sacheon city

COMMERCE, Calif., July 24, 2024 (GLOBE NEWSWIRE) - FDH Aero (“FDH”), a global provider of supply chain solutions for the aerospace and defense industry, announced today that it has signed a Memorandum of Understanding (MOU) with the southern coastal city of Sacheon, in South Korea. Sacheon city is home to the Korea AeroSpace Administration (KASA), which was established earlier this year to support the Korean government's ambitious goals of landings on the moon and Mars within the next two decades as well as developing private space industries including space mining and satellite data utilization.

As the first aerospace supplier to form an agreement with Sacheon city, FDH Aero will play a critical role in promoting and growing South Korea's aerospace-related projects. FDH will provide consulting services such as training seminars, site visits and the development of joint projects both in the region and across the globe. The agreement takes effect immediately and will last at least two years.

“It is our great honor to partner with Sacheon fostering and developing the growth of South Korea's ambitious aviation industry,” said Cody Ho, Managing Director of the APAC region for FDH Aero. “Our operations in the region have seen tremendous growth in recent years, and we are committed to leveraging our knowledge and connections to foster industrial cooperation and establish a global supply chain for Korea's aerospace and defense industry.”

FDH Aero has become a trusted supply-chain solutions partner for the aerospace, defense and space industries due to the breadth of its product portfolio, a commitment to hands-on customer service, and its knowledgeable and industry-connected leadership team. This partnership will further strengthen FDH's presence in the APAC region and create new avenues for collaboration in space.

“Today marks a significant milestone for Sacheon as our partnership with FDH Aero accelerates the growth of Korea's space industry,” said Dae-Woong Jeong, Director General of Sacheon City Bureau Aerospace Industry. “The expertise of our esteemed partner will be invaluable to both academic research and business development. Together, we will pioneer a new future for Korea and advance our knowledge for the betterment of humanity.”

The Korean government has additionally announced plans to form joint projects with other space research organizations, including NASA, and explore the possibility of economic cooperation with emerging countries that do not yet have formal space programs. It is hoped that KASA will lead to the creation or further development of more than 2,000 aerospace companies, the creation of 500,000 quality jobs, and a significant presence in the global market, estimated at $291 billion (420 trillion won).

About FDH Aero
FDH Aero is a trusted global supply chain solutions partner for aerospace and defense companies, helping to shape the industry by simplifying the supply chain. With over 60 years of experience, it specializes in hardware, electrical, chemical, and consumable products and value-add services for global OEM and aftermarket customers. FDH is headquartered in Commerce, California, and has operations across the Americas, EMEA and APAC. FDH Aero has locations in 14 countries across the globe, with more than 1,500 best-in-industry employees and over 650,000 square feet of inventory space.

For more information, please visit FDHAero.com.

Contact
Heather Rosenow
Vice President, Global Marketing & Communications
mediarelations@fdhaero.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d11435f7-e130-4bf1-bd8b-e8356b22bfaf