The ROK government will invest more than $1.1 billion (1.5 trillion won) by 2027 in civilian-military technology cooperation to aid the defense industry’s growth and export goals. The government’s investment will focus on specific technologies such as space, artificial intelligence, cyber and robotics. In addition, it plans to appropriate $78.8 million (100 billion won) a year for small and medium-sized defense firms to improve the country’s ability to rely on itself for defense acquisition.

Minister of National Defense Lee Jong-sup, who presided over the meeting, said, “The record-high defense exports that amounted to $17.3 billion last year confirm that South Korea’s weapons systems are sufficiently competitive in the global market. The defense industry is a strategic industry that strengthens our national defense and helps to grow our economy.” Minister of Trade, Industry and Energy Lee Chang-yang added that the government would provide “strong government-wide support” so that the ROK’s defense industry’s global market share would exceed 5% and become one of the world’s top four arms-exporting countries.