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[Alpha Biz=(Chicago) Reporter Paul Lee] The Korea Aerospace Industries (KAI) denied all rumors of the sale and predicted a Quantum Jump in the gas manufacturing and export sector this year.

"As the space and urban air traffic (UAM) sectors grow, we will record quantum jump in both sales and profits this year," KAI President Kang Gu-young said at a press conference held at the Air Force Hotel in Yeongdeungpo-gu, Seoul on the 17th.

KAI, which recorded 2.8 trillion won in sales last year, set a sales target of 3.8 trillion won this year. The figure is 35% higher than last year. Kang said, "Based on the mid- to long-term plan, we will become the world's top seven defense companies in 2050."

Regarding the sale of the company, President Kang said, "I am against it." Rumors continue to circulate in the market that KAI, a major shareholder of the Export-Import Bank of Korea (government), will be sold to private companies such as Hanwha Group.

 

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