SEOUL - The Korea Aerospace Industries (KAI) will supply parts to Brazilian aircraft manufacturer Embraer in a contract worth 280 billion won ($245 million).
KAI will supply wing parts for three models of aircraft manufactured by Embraer by 2033, according to a statement by KAI Wednesday sent to the South Korean Financial Supervisory Service.
The three aircraft are the Embraer KC-390 military transport aircraft and the E190-E2 and E185-E2.
In recent years, the South Korean aerospace company has improved its balance sheets by exporting parts or military training aircraft.
From 2014 the net and operating profits of KAI have doubled to 111,070 and 314,960 million won respectively.