Since the Fourth Industrial Revolution was mentioned at the World Economic Forum in 2016, it has become a key issue in the global industry, and policy responses have been accelerated, especially in developed and some Asian countries. Korea has also responded to the 4th Industrial Revolution by forming a new industry promotion plan. However, in the field of traditional strength of domestic companies such as automobile, shipbuilding, and machine-related companies, each company is facing difficulties due to technological competitiveness with advanced countries and price competitiveness with China and Vietnam. The strong industrial sector in Korea is in need of securing competitiveness from a new perspective due to its weak linkage with the fourth industry. Therefore, it is necessary for Korea to respond more appropriately to the fourth industry and to secure and respond to the capabilities of related core technologies.
   The core technologies of the 4th industry are 3D Printing, IoT, Big Data / Cloud, AI, and Intelligent Robots. The five core technologies are areas that can create more synergy when linked with the aerospace space sector. This is because the core technologies of the Fourth Industrial Revolution are being used in drones, personal vehicle (PAV), space launch vehicles, and satellite industries.
   Korea has a competitive edge in the ICT industry, and has the basic industrial capacities linked with the core technologies of the 4th industry. However, the history of the aerospace industry is not long and the level of technology is not high. Therefore, it is necessary to secure industrial competitiveness and create synergy through linkage with overseas countries where the aerospace industry has developed.
   Among the countries where the aerospace industry has developed, India is one of ASEAN countries and targeted as win-win prosperity community policy. India, in particular, has long history of aerospace industry development and a high level of technology. Therefore, it is necessary to combine aviation and aerospace technologies with core technologies of the 4th industry through cooperation with India, thereby strengthening cooperation between domestic companies and securing competitiveness.
   Based on the above background, this study reviewed the status of aerospace industry, import/export status, the 4th industry related industries and companies in both Korea and India. Time span of the research is the last 10 years and expert interview, expert survey and AHP evaluation is conducted in order to set cooperation priority between the two countries and to draw more appropriate measures.
   According to review for current status of both countries, Korea has a shorter development time than that of India and the Korea has a large technology gap on the space technology level.  In the aerospace sectors, Korea relies heavily on imports of assembly but the parts industry has a competitive edge, and the satellite services and equipment sectors have developed relatively among other sectors. In the case of India, the aviation industry is characterized by the establishment of a regional center in a foreign country through a partnership between foreign aircraft companies that pays attention to India's R & D capabilities. The MRO industry and the transportation industry are also developed. As for the aerospace industry, India has grown to be one of the top aerospace countries in connection with defense policy, particularly in aerospace embedded software, and recently focuses on satellite and GPS systems.
   As a result of reviewing the current status of the 4th industry in both Korea and India, focusing on five core technologies, both countries are manufacturing aerospace / space components using 3D printing. However, IoT, big data / cloud, artificial intelligence, and intelligent robots are still in their early stages.
   On the other hand, overseas cooperation between Korea and India is in common that both countries cooperate heavily withthe United States, and India has a long history of cooperation with Russia as well as the United States. The policy / industrial cooperation between the two countries was promoted through the exchange of manpower and the consultation of practitioners based on the summit meeting. In the case of industrial cooperation, India is promoting 'Defence Production Policy 2018' to expand private investment, but industrial cooperation between the two countries is focused on the defense sector.
   In terms of cooperation in the field of utilization, the two countries are planning to strengthen cooperation in the 4th industrial sector through the summit meeting in early 2019, and are pursuing 'co-funding international joint technology development project' hosted by the Ministry of Trade, Industry and Energy.
   After reviewing current status of industry in both countries and expert interview,  there is a limit to promoting cooperation of aerospace sector in two countries by private companies because the aerospace sector and its related technology has security issues. Survey and AHP evaluation resulted that increased investment in policy cooperation, cooperation in aeronautical manufacturing (completer), manufacturing of aeroplane / 3D printing / satellite navigation, big data and cloud, in cooperation with Korean Air, bilateral cooperation are required. Target countries for export on the basis of cooperation between two countries are resultedd Indonesia were identified as Indonesia / Vietnam.
   For the future cooperation between the two countries, this study suggests the strategy on the basis of short, medium and long term classification.
   In the short term, advancement of MOU agreements, regular exchange of personnel, international joint research are required. In the medium term, the establishment of the Korea-India Aerospace Utilization Research Center, funding between the two countries are required. Finally, in the long term, it is necessary to jointly enter a third country where the aviation / space and utilization industries are in the increased demand through the establishment and operation of a joint venture between Korea and India. In this way, Korea will be able to secure competitiveness and strengthen its position in the 4th industry in connection with the development of the aviation / space sector.