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Analysis Trump’s 2024 bid could reshape global defense industry, impact South KoreaSouth Korean defense firms could benefit from increased allied spending, but face competition and U.S. market risks Former U.S. President Donald Trump’s potential return to the White House in 2024 could significantly impact the global defense industry, particularly for South Korean companies. If re-elected, Trump’s critical stance on the North Atlantic Treaty Organization (NATO) and his “America First” approach to collective security arrangements could increase pressure on allies to boost defense spending, potentially shifting U.S. defense priorities and intensifying competition in the international arms market. However, it will also provide new growth opportunities for South Korean defense firms, which have seen significant growth in recent years, as U.S. allies could seek to bolster their defense capabilities in © Korea Risk Group. All rights reserved. |





