Korean Aerospace Industries (KAI) says it expects to receive formal bids from potential foreign investors in mid-December as it finalises work on its formation.
The company, being formed from the merger of parts of Daewoo Heavy Industries, Hyundai Space and Aircraft and Samsung Aerospace, has been told by potential foreign investors that they are currently "preparing formal proposals," says KAI general manager Alex Jun.
Jun says from Seoul that bids are expected soon after KAI is formally registered as a company early next month.
The registration process began on 1 October, when KAI was given "company in process" status and when its three partners formally began transferring assets, work programmes and personnel.
Source: Flight Daily News