Korea Aerospace Industries

Two men stand by Korea Aerospace Research Intitute's Smart trirotor unmanned air vehicle (UAV) at the Association for Unmanned Vehicle Systems International (AUVSI) annual show in Washington on August 16, 2011.

No buyers?

Politics matter for Korean deals. The sale of a stake in Korea Aerospace Industries, the country’s sole aircraft maker, has failed again after Korean Air withdrew.

The airline said it decided not to bid for the $1.1bn stake in KAI because of the high price tag, although it was still interested in buying the aircraft maker at a “proper” price to nurture the country’s aerospace industries as its new growth driver. Read more

South Korea’s privatisation plans are going nowhere ahead of the presidential election in December. Many of the country’s major privatisation projects have failed or lost steam with the Lee Myung-bak administration nearing the end of its five-year term.

The latest example seems to be the failed sale of a $1bn stake in Korea Aerospace Industries, the country’s only aircraft maker. Read more