Korea Aerospace Industries (KAI) introduced its first indigenous private aircraft Wednesday, allowing Korea to join the ranks of nations that boast developing non-military aircraft.
The four-seat light passenger plane, named "Naraon," is the first private aircraft developed and built by the country, the Ministry of Land, Transport and Maritime Affairs said in a statement.
"Should the country conclude a bilateral aviation safety agreement with the United States' Federal Aviation Administration (FAA) by 2013 as planned, we will not only secure the status of a private aircraft manufacturer but also become an exporter," it said.
KAI started developing the single-engine propeller aircraft in 2008. Korea, the world’s 15th largest air passenger service provider, became the world's 28th nation to build and fly an indigenous plane.
Naraon can reach most major cities in Japan, China and some Southeast Asian countries. It can fly at a top speed of 389 kilometers per hour and has a maximum flight distance of 1,850 kilometers.
The aircraft will have a price tag of around 600 million won ($568,000). The ministry said the aircraft can be used for pilot-training, leisure and various other purposes.
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