{"id":2199580,"date":"2022-11-28T10:00:39","date_gmt":"2022-11-28T10:00:39","guid":{"rendered":"https:\/\/www.nknews.org\/koreapro\/?p=2199580"},"modified":"2023-04-05T16:10:55","modified_gmt":"2023-04-05T07:10:55","slug":"the-three-big-drivers-of-the-south-korean-defense-industry","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2022\/11\/the-three-big-drivers-of-the-south-korean-defense-industry\/","title":{"rendered":"The three big drivers of the South Korean defense industry"},"content":{"rendered":"
Last week, President Yoon Suk-yeol <\/span>pledged<\/span><\/a> to build South Korea\u2019s weapons industry into the world\u2019s fourth-largest arms exporter, calling defense a \u201cnew future growth engine\u201d for the national economy and the pivot point for the high-tech industry.\u00a0<\/span><\/p>\n \u201cWith the intensifying competition for technological supremacy, we need to secure technological competitiveness to develop game-changing weapon systems for future wars,\u201d he said during a meeting at the Korea Aerospace Industries.<\/span><\/p>\n South Korea\u2019s arms exports have <\/span>risen dramatically<\/span><\/a> in a few short years, driven by an uncertain international security environment. South Korea successfully negotiated its <\/span>largest arms deal with Poland<\/span><\/a> earlier this year, estimated to be 20 trillion won ($15 billion), partially to restore Poland\u2019s reserves depleted since the start of Russia\u2019s invasion of Ukraine. The deal included exports of South Korean tanks, howitzers, and fighter jets.<\/span><\/p>\n That deal alone <\/span>doubled<\/span><\/a> South Korea\u2019s arms exports from the previous year. However, the list of potential clients seeking to purchase South Korean weapons, such as <\/span>Norway<\/span><\/a>, <\/span>Saudi Arabia<\/span><\/a>, and <\/span>Australia<\/span><\/a>, could help boost South Korea\u2019s export-driven economy and propel its defense industry even further.<\/span><\/p>\n