|Bosung Industrial has been developing weapons systems for the U.S Forces Korea and the South Korean military since 1964. Courtesy of Bosung Industrial|
By Ko Dong-hwan
South Korean weapons systems developer Bosung Industrial has set up a new subsidiary in Washington, D.C., under a plan to test its competitiveness overseas.
The company, spearheaded by CEO Kim Joo-han, is headquartered in Seongnam, Gyeonggi Province. Kim said it launched the expansion "to enter the U.S. government procurement market and overseas maintenance markets with U.S. weapons systems."
"Our goal is to grow to a competitive global defense company in the business of a supply chain of spare parts and integrated logistics solutions development and supply service," he said.
Bosung was established in 1964 and has been making tactical combat vehicles, telecommunications equipment and other special equipment for the U.S. Forces Korea (USFK), as well as providing overseas parts supplies and component localization.
The company has introduced technology for integrated engine propulsion control in the Republic of Korea's (ROK) Navy combat ships. It also is developing and mass-producing water jets for the ROK Army's armored vehicles.
Kim said Bosung has for decades been pioneering markets in the U.S. and the Middle East based on its record and technological capabilities accumulated through the maintenance of USFK equipment and major equipment of the Korean Navy and Air Force, overseas technology-assisted production and pure self-technology development projects.
Bosung has technical partnerships with Rolls-Royce in the United Kingdom and L3Harris Technology in the United States.
The company signed a memorandum of understanding and a joint venture agreement with Saudi Arabia and Pakistan to expand its maintenance, repair and operations business (MRO) abroad.
Kim said Bosung's technological power built from long experience with the USFK military vehicle MRO business has earned it recognition in foreign markets.