[News Today = Reporter Kim Han-kyung] Seok Jong-gun, Minister of Defense Acquisition Program Administration (DAPA),visited specialized and cooperative companies in the aerospace field in Changwon and Sacheon, Gyeongsangnam-do over two days on the 15th and 16th of this month to listen to their opinions and difficulties.

According to the Defense Acquisition Program Administration (hereinafter referred to as DAPA), Minister Seok attended an event commemorating the shipment of 10,000 aircraft engines held at Hanwha Aerospace in Changwon on the 15th, and visited YoungPoong Electronics, an innovative defense company, to field tour  the defense and avionics research and development facilities. and the production line.

Mr. Ha-yeol Ryu, CEO of YoungPoong Electronics, said at the event, “As the development in cutting-edge technology requires a lot of cost and time, we must invest budget and resources in a timely manner,” and suggested the expansion on financial resources support, Secondary Conservation Support Project and etc.".

Accordingly, Mr. Seok, Minister, said, “This year, the funds needed to improve the business conditions of defense industry-related companies will be loaned through commercial banks and the government will support interest at a certain interest rate, approximately 300 billion won through the 2024 Defense Industry Secondary Conservation Loan Project. “We will pursue financial support on a large scale".

The Secondary Conservation Support Project, which the DAPA has been carrying out since 2007, is a project in which the government supports a significant portion of the interest when a defense industry company borrows the funds needed for research and development, local production of parts, and facility investment from a financial institution that has signed an agreement with the DAPA.

On the 16th, Minister Seok visited Yulgok, a major partner company of Korea Aerospace Industries (KAI) located in Sacheon, and checked the aircraft structure production line and test facilities.

Wi Ho-cheol, Yulgok CEO of Yulgok, suggested that “We hope that unnecessary regulations is removed and ask for the practical supports that commercial companies would be able to enter and participate in the defense and aviation industries".

Minister Seok responded like, “We will hold briefing sessions on policies and systems related to defense projects on a regular basis and continuously pursue efforts for regulatory reform by collecting opinions.”

In the future, the DAPA will visit not only defense companies who directly develop and produce existing weapon systems, but also defense industry innovation companies and defense industry partner companies that directly research and develop cutting-edge technologies such as space, drones, and artificial intelligence (AI), and listen to their difficulties and plan to discuss various ways to foster the defense industry.