1 of 2 | A Grey Eagle unmanned attack aircraft prepares to take off at US Camp Humphreys in Pyeongtaek, South Korea. Photo by YONHAP / EPA

May 26 (Asia Today) -- Hanwha Aerospace said Tuesday it has launched a project with the Korea AeroSpace Administration to develop South Korea's first domestically made turbofan aircraft engine for both civilian and military use.

The company attended a kickoff meeting Tuesday at the space agency's headquarters in Sacheon, South Gyeongsang Province, for the next-generation civil-military aircraft engine and propulsion system development project.

Hanwha Aerospace will lead the project, with participation from the Korea Aerospace Research Institute, universities and smaller technology companies. The project aims to develop a 4,500-pound-force-class engine for unmanned aircraft by 2029.

The engine is designed to be South Korea's first to mount a starter generator on the engine shaft, enabling it to supply up to 100 kilowatts of electricity. The design is intended to increase power generation while reducing weight, making it suitable for unmanned aircraft, small business jets and other civilian aircraft.