Elbit Systems has formed a joint venture with Sharp Aviation K Inc. to offer avionics systems and services for military customers in South Korea, according to a joint statement.
Sharp Elbit Systems Aerospace Inc., based in Seoul, will provide research and development, repairs, maintenance and other services for projects such as Korea’s light attack helicopter and future fighter programs.
Elbit owns 19 percent of the entity and has an option to increase share to 50 percent.
Sharp Aviation K will transfer its existing contracts to the venture as part of the agreement, Elbit said.
The JV is aiming to provide foreign suppliers offset solutions and original equipment manufacturer’s defense products and services in Korea.
Soon-Suk Paik, president and CEO of Sharp Aviation K, said the venture brings together Elbit Systems’ technological portfolio and Sharp Aviation K’s expertise in aviation and avionics.