Boeing Commercial Airplanes VP Marketing Randy Tinseth stated he expects the increasing number of liberalised air service agreements signed between South Korea and other countries to further stimulate air travel in the country (Korea Times, 07-Oct-2010). Korea remains an important market for Boeing and an important source of components. Boeing acquires aircraft parts from 20 Korean suppliers.
Boeing Commercial Airplanes: “The Korean economy has strongly rebounded from the recession and is now growing at a pace well ahead of the global economy … Low-cost airlines are beginning to gain a share in the Korean airline market, accounting for about 22 percent of all domestic seats in 2009,” Randy Tinseth, VP Marketing. Source: Korea Herald, 07-Oct-2010.