South Korea to expand exports of aviation parts

South Korea's trade minister said Wednesday that the government will help the local aviation parts industry expand overseas and more than double its exports over the next four years. 
"I will help increase aviation parts exports to US$4.5 billion by 2020 from $1.8 billion in 2015 by strengthening the competitiveness of the local industry and boosting global cooperation," South Korean Trade Minister Joo Hyung-hwan said in a business conference in Seoul with Boeing Co., a U.S. aerospace company, and South Korean components suppliers. 
Boeing has been one of the biggest buyers for South Korean aviation parts manufacturers as it has bought a total of $2.9 billion over the past 10 years. 
The trade ministry said the meeting will help the South Korean aviation business enter the global aerospace market and contribute to the country's total exports.