Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
SUMMIT Korean Air to purchase 103 Boeing planes following Korea-US summit
Hanjin Group and Korean Air Chairman Cho Won-tae, second from left, poses with Stephanie Pope, president and CEO of Boeing Commercial Airplanes, at the Willard InterContinental Washington, Monday (local time), after signing a deal to purchase 103 new airplanes from the U.S. manufacturer of commercial jetliners. Korea's Minister of Trade, Industry and Energy Kim Jung-kwan, left, and U.S. Secretary of Commerce Howard Lutnick, right, also attended the event. Courtesy of Korean Air
By Lee Min-hyung
Korean Air has decided to purchase a total of 103 next-generation Boeing airplanes worth $36.2 billion (50.3 trillion won) following the latest summit between President Lee Jae Myung and his U.S. counterpart Donald Trump in Washington, Korea's Ministry of Trade, Industry and Energy said Monday (local time).
This is the single-largest aircraft order in the history of the nation’s flag carrier. The orders include 20 Boeing 777-9s, 25 Boeing 787-10s, 50 Boeing 737-10s and eight Boeing 777-8F freighters. They are scheduled for phased delivery around the end of 2040.
The latest deal is part of Korean Air's proactive move to support its sustainable growth after acquiring Asiana Airlines.
On top of the aircraft purchase, the airline will purchase 19 spare engines from GE Aerospace and CFM International. Korean Air is also set to receive a comprehensive engine maintenance program with GE Aerospace, as part of its efforts to ensure safer and more stable aircraft maintenance, the airline said in a statement.
Korean Air will spend $690 million in purchasing the spare engines, and invest $13 billion for the 20-year engine maintenance service contract.
Korean Air's Boeing 787-10 / Courtesy of Korean Air
"The deal is a strategic choice to strengthen Korean Air's partnership with the U.S. aviation industry," an official from the company said.
"Korean Air currently collaborates closely with a broad range of U.S.-based aviation companies, including Pratt & Whitney, General Electric, Hamilton Sundstrand and Honeywell."
Korean Air signed a memorandum of understanding in July 2024 to acquire some 50 airplanes from Boeing. The deal was valued at $24.9 billion.
Korea's trade ministry said Korean Air's latest contract with Boeing is a separate new order from the previous one.
Meanwhile, Hanjin Group and Korean Air Chairman Cho Won-tae accompanied Lee during on his ongoing Washington visit.