Huneed Technologies (Eugene Kim, Chairman / www.huneed.com, KOSPI 005870) announced that it has signed a contract with Korean Air to supply a core data link equipment for the Division level Reconnaissance Unmanned Aerial Vehicle (UAV). The contract is worth US$4.3 million, which is approximately 8% of Huneed’s last year sales revenue.
The Division level Reconnaissance UAV Project is to provide ISR capability for ROK Army’s Division operation by transmitting video information on a real-time basis to the ground station. Huneed is to supply the main system integrator, Korean Air, with the core secondary data link equipments which are installed on aerial vehicles, ground control unit, taking off and landing control unit, and ground relay unit. These equipments will be transmitting and receiving mission control commands, positioning / status information between the aerial vehicle and ground units.
This Project is an important milestone for Huneed that it is the first time for Huneed to participate in mass production in the UAV sector after having its past achievements in Smart Unmanned Aerial Vehicle (SUAV), Unmanned Combat Aerial vehicle (UCAV), and Division level UAV related developments. Huneed has been closely cooperating in avionics businesses for manned aerial vehicles with two world-class aerospace companies, Boeing and Airbus, and now it is also making its mark in the UAV sector.
Furthermore, Huneed is paving the way to its continuous growth in the domestic aerospace market via this mass-production program with Korean Air after executing collaboration agreement with Korea Aerospace Industries, Ltd. (KAI) for Light Armed Helicopter (LAH)/Light Civil Helicopter (LCH) development program.
Eugene Kim, Chairman of Huneed, commented, “As the Division level UAV with a built-in data link developed by Huneed is deployed, an effective detection of the enemy provocation in the DMZ area will be enabled and the ROK military can rapidly counteract and neutralize the enemy threat. The aerospace industry is an aggregate of cutting edge industrial convergence that provides a great ripple effect and a possibility of sustaining value creation, which lead to increase in exports. Huneed will keep expanding its UAV related businesses to meet domestic demands as well as to greatly contribute to defense exports.”