-advertisement-

At the Eurosatory 2024 exhibition held at the Paris Nord Villepinte Convention Centre, Young Poong Electronics, a South Korean defense contractor, signed a technology transfer and license production agreement with Hensoldt, a global avionics company based in Germany

At Eurosatory 2024, one of the world’s largest defense exhibitions, South Korea's Young Poong Electronics (000670.KS) signed a significant agreement with Germany's Hensoldt (HAG.F), a leading avionics company.

The agreement, valued at over KRW 55 billion (CNY 292 million or USD 40.7 million), involves technology transfer and licensing for the production of aircraft black boxes in South Korea. The signing ceremony took place at the South Korean SME Pavilion, attended by Young Poong Electronics CEO Ryu Ha-yeol, Hensoldt’s Head of International Business Development Russell Gould, and Choi Byung-ro, Vice Chairman of the Korea Defense Industry Association.

Hensoldt, known for producing the world’s most compact aircraft black boxes, will transfer its 'LCR-100/CVFDR' technology to Young Poong Electronics, allowing them to manufacture black boxes for over 600 fixed-wing and rotary-wing aircraft operated by the South Korean military.

After a year of rigorous evaluations, Young Poong Electronics secured the production license. Russell Gould expressed enthusiasm for the partnership, citing the high-level technology and production capabilities of Young Poong Electronics.

A representative from Young Poong Electronics highlighted the importance of the agreement, noting that it recognizes the advanced technology developed by South Korean SMEs and opens opportunities to expand into the civil aviation sector, with potential benefits exceeding $100 million.

About Young Poong Electronics Co., Ltd.  

The company specializes in manufacturing flexible printed circuit. They specialize in FPCB (Flexible Printed Circuit Board) and the products are mainly delivered to internal and external leading electronic industries such as Apple, Samsung, LG, Kyocera, BOE.   and also used as key components of smart Phone, Notebook, Tablet, Wearable, Camera FPCB, Automotive etc.

Editor：Lulu

▼▼▼

STARTEAM GLOBAL adopts Notion Systems'digital n.jet soldermask system

Samsung Electro-Mechanics vs. LG Innotek CEO compensation: Who comes out on top?

Han's CNC reports 102.89% surge in H1 2024 Revenue, driven by strong PCB equipment demand

Gigavis to supply world's first ultra-fine inspection equipment for semiconductor substrates to SEMCO

Japan's Meiko Electronics aims to build second PCB factory in northern Vietnam from Oct 2025

SEMCO signs 2024 wage and collective bargaining agreement with 5.1% average wage increase