[2] The company began development of a new light twin, in partnership with South Korea's Samsung Aerospace Industries.

The 427's fuselage and tailboom are built by Samsung (later part of KAI) at its Sachon plant in South Korea.

The agreement gave KAI the development and production responsibility for the fuselage, cabin wiring, and fuel system.

[4][5] The 427i included a newer glass cockpit and navigation systems to allow single pilot flying under Instrument flight rules.

The design had a fuselage lengthened 1 ft 2 in (0.36 m), a more powerful engine version and transmission, and increased takeoff weight.

[7] On January 24, 2008, Bell announced plans to officially discontinue its 427 line after current order commitments were fulfilled in 2010.