The new chief executive officer of aerospace and defense company Korea Aerospace Industries has urged his employees to focus all of their capabilities on winning orders to overcome the management crisis, the firm said Sunday. 

“Despite the harsh environment, KAI has achieved remarkable growth through the efforts of its employees and partner companies as well as support from the government. However, the company is in a crisis due to stagnant sales and orders over the past five years,” said CEO Ahn Hyun-ho during the firm’s 20th founding anniversary Friday.

The former vice industry minister urged employees to focus all their competencies on winning orders to overcome the ongoing management crisis.

“We need to win more orders through cost-cutting efforts and preemptive research and development. As a representative Korean aerospace company, we will present a vision for the future and create a win-win partnership with small and medium-sized partners,” he added.

KAI, the nation’s sole aircraft manufacturer, was established in 1999 by integrating the aerospace divisions of Daewoo Heavy Industries, Samsung Airlines and Hyundai Space and Aircraft to foster the domestic aerospace industry. 

By Shin Ji-hye (shinjh@heraldcorp.com)