Original Link: https://www.edaily.co.kr/News/Read?newsId=02177926642233208&mediaCodeNo=257
Published: July 10, 2025
By So-Hyun Kwon, Edaily Marketin
First shipment of B777-300ER cargo conversion kit
First result of KRW 81.2 billion aircraft conversion contract
Additional orders expected as demand for cargo aircraft conversion rises
ASTK (067390), a manufacturer specializing in precision aircraft structures, announced on the 10th that it has delivered its first product to Israel Aerospace Industries (IAI), a state-owned Israeli defense company.
IAI is a state-owned Israeli defense enterprise and a global aerospace company engaged in the development and production of business jets, early warning aircraft, avionics, missiles, military satellites, and rockets. It plans to operate an aircraft conversion business within the MRO complex currently under development at Incheon International Airport.
The product delivered this time is the first unit related to the Boeing B777-300ER cargo aircraft conversion project. It is the initial result of a cargo conversion business contract signed with IAI in August 2022. In 2024, the contract amount was revised to reflect unit price increases, resulting in a value of 62.05 million USD (approximately 81.2 billion KRW).
The two companies held a commemorative ceremony at ASTK’s headquarters in Sacheon, Gyeongsangnam-do, attended by ASTK CEO Kim Doo-il and key personnel from IAI.
An ASTK official stated, “Since 2007, we have accumulated know-how through our cargo conversion (P2F, Passenger to Freighter) projects for Boeing B757 and Airbus A320·A321 passenger aircraft in collaboration with Singapore’s ST Engineering Aerospace (STEA),” and added, “Based on this experience, over 100 personnel developed the new product—both the highest in quantity and most complex in difficulty—over a period of more than two years, leading to the successful shipment of this first unit.”
They continued, “The successful delivery of this initial unit is significant in that it proves ASTK’s world-class capabilities in ultra-precision sheet metal and machining technology for aircraft conversion, as recognized by overseas clients,” and explained, “As global airlines are expected to increasingly convert aging aircraft models into freighters, we also anticipate additional orders in the future.”