Hyundai Space and Aircraft
Native name | 현대우주항공주식회사 |
|---|---|
| Company type | Public |
| Industry | |
| Founded | 1 March 1994[1] |
| Defunct | December 2001[1] |
| Fate | Integrated into Korea Aerospace Industries |
| Successors | |
| Headquarters | Hyundai Bldg., 140-2, Kye-dong, Chongno-gu, , |
Key people | Kim Dong-jin |
| Products | |
| Parent | Hyundai Group |
Template:Infobox Korean name/auto
Hyundai Space and Aircraft Co., Ltd. (HYSA; Template:Korean) operated as an aerospace subsidiary under the Hyundai Group, founded in March 1994. The company’s core operations encompassed industrial machinery, plant facilities, industrial robots, the production of spacecraft, aircraft, and related components, as well as air transportation and automotive parts manufacturing and distribution. In July 1995, the Ministry of Trade, Industry and Energy (MOTIE) officially recognized it as a defense contractor.[1]
History
In August 1994, Hyundai Space and Aircraft was appointed to develop the power system for the KOMPSAT (Korean Multi-Purpose Satellite) initiative.[1]
The Ministry of Trade, Industry and Energy designated the company as a principal defense contractor in July 1995.[1]
By February 1996, HYSA secured a contract to manufacture the main wing sections for the Boeing 717.[3][1]
In July 1997, the company expanded by acquiring the transmission manufacturing division from Hyundai Engineering & Construction.[1]
As part of corporate restructuring in 1999, the aircraft segment was spun off, and HYSA contributed capital in kind to establish Korea Aerospace Industries (KAI).[1]
The corporation ceased operations in December 2001 following the transfer of its helicopter business and aircraft parts manufacturing to Korea Aerospace Industries.[1]
References
External links
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- Aerospace firms in South Korea
- South Korean aircraft producers
- Manufacturing enterprises in South Korea
- Seoul-based companies
- Manufacturing firms founded in 1994
- South Korean enterprises established in 1994
- Mergers and acquisitions of 1999
- Former aircraft manufacturers in South Korea
- Manufacturing companies closed in 2001
- Defunct aircraft manufacturers of South Korea