Korea Aerospace Industries, Ltd. is a South Korean aerospace and defense company. It was originally established as a joint venture of Daewoo Heavy Industries' aerospace division, Samsung Aerospace, and Hyundai Space and Aircraft. During 1999, KAI became more independent of its founding members, acquiring their aerospace interests at the behest of the South Korean government following the financial troubles of these companies that had resulted from the 1997 Asian financial crisis. KAI has developed various aerospace products, including the Korean Space Launch Vehicle-II and various satellites. It has been involved in the production of several foreign-designed aircraft via licensing arrangements, such as the MBB/Kawasaki BK 117, MBB Bo-105 KLH, and the KF-16. KAI has also developed and produced its own aircraft designs, including the KT-1 Woongbi and T-50 Golden Eagle training aircraft, the KC-100 Naraon general aviation aircraft, and the KUH-1 Surion utility helicopter. Both the company's headquarters and several key manufacturing facilities are located in Sacheon, South Gyeongsang Province. Wikipedia