Saab appoints new CEO Stefan Engström

Swedish defense company Saab announced on the 2nd that it had appointed Stefan Engström as the new CEO of Saab International Technology Korea (SITK) on the 1st.

Saab explained that the new CEO, Engström, has expertise in the global defense industry and experience in military operations, and has a good understanding of customers and products.

After serving 25 years in the Swedish Air Force and retiring as a major, he joined Saab as sales director for the Gripen fighter system in 2018 and has since led major overseas projects, concluding several large defense contracts.

CEO Engström said, “Korea is a country with advanced technology and outstanding defense industry capabilities, and a strong will to secure its own defense capabilities. There is significant potential to further develop the relationship between Saab and Korea and build a partnership that creates long-term value for both parties.”

He added, "Saab will focus on strengthening its role as a long-term strategic partner of Korea," and added, "We will look for ways to complement the capabilities of Korea and Sweden in various fields such as technology, industry, innovation, and global business beyond individual businesses."