Korea Aerospace Industries (KAI), the military aircraft manufacturer controlled by the state-run Export-Import Bank of Korea (Eximbank), appointed Kim Jong-chul as CEO on Wednesday. His appointment put an end to KAI's eight-month leadership vacuum following the resignation of former CEO Kang Goo-young, known as a close ally of former President Yoon Suk Yeol. KAI’s shareholders and board members agreed that day to give the CEO post to Kim, a former Republic of Korea Air Force officer who worked for the Defense Acquisition Program Administration. Defense industry officials expect the government to resume efforts to privatize KAI under its new chief, as Hanwha and LIG have recently been mentioned as potential buyers of the controlling stake held by Eximbank. Although KAI is not directly owned by the government, it is effectively under state control because Eximbank holds the largest stake at 26.4 percent. The National Pension Service is the second-largest shareholder with an 8.5 percent stake. This structure has allowed the government to continue influencing KAI’s leadership appointments