South Korea Wants To Become One Of The World’s Biggest Arms Dealers

By -




South Korea has ambitious plans to be the fourth-largest weapons exporter by 2027, after the United States, Russia and France. Between 2010 and 2017, Seoul tripled its total defense exports to $3.1 billion. So, how did South Korea become one of the world’s biggest arms dealers, and could it even eclipse the likes of China and Germany?


From 2018 to 2022, South Korea was the ninth largest weapons supplier globally, ahead of Israel, the Netherlands and Turkey.

In recent years, South Korea has edged out stiff competition from Western defense manufacturers and cheaper Chinese developers with government support, attractive pricing and faster delivery times.

Seoul has ambitions to be the fourth-largest weapons exporter by 2027, after the United States, Russia and France.

“The government will nurture the defense industry into a state-of-the-art strategic industry that leads economic growth,” South Korean President Yoon Suk Yeol has stated.

Today, the biggest South Korean defense companies include Hanwha, Korea Aerospace Industries, LIG Nex1 and Hyundai Rotem.

“The Korean government is fairly supportive in approving the technology transfers and exports of some very crucial parts and technology,” Kim Dae-young, an executive vice president at Hanwha Aerospace, told CNBC.

Yulgok Kim, a defense analyst, noted that South Korea’s competitiveness comes from a few important and distinctive factors.

“First, fast delivery timeline. Second, manufacturing efficiency and prowess. Third, strong governmental willingness to support defense contractors. Fourth, high demands of defense products because of confrontational situation vis-a-vis North Korea and China in the region,” he said.  

Oskar Pietrewicz, a defense analyst from Poland, said that the needs of the South Korean military also ensures that its defense industry maintains a high production capacity.

“Korea has lots of weapons and has the potential to deliver them very quickly,” Pietrewicz noted.   

But are these factors enough for South Korea to become one of the world’s biggest arms dealers? Watch the video to find out.


 

Comments

Post a Comment

Popular posts from this blog

Characters In BBC’s Documentary On TB Joshua Unknown To Us – Synagogue Church

By -
Image
  The Synagogue Church of all Nations (SCOAN) has countered the BBC documentary on the late Temitope Babatunde Joshua, known as TB Joshua, founder of SCOAN. SCOAN described the documentary against TB Joshua as unfounded, and that the characters interviewed in the report were unknown to the church. The church, in a statement signed by its Public Affairs Director, Mr Dare Adejumo, said the statement was aimed at disabusing public minds from the report. The News Agency of Nigeria (NAN) recalls that the BBC released a highly controversial and damning documentary on the late TB Joshua on Monday, accusing him of various crimes, including rape, against some members. SCOAN said, “BBC World Services investigative unit, code-named Africa Eye, came out this week with weird and strange episodes of atrocities against the late founder of SCOAN.” It said that to investigate and publish or broadcast reports was a central kernel of journalism, but to do so outside the ethics and fundamental principles
Read more

NBA Suspends Canada’s Joshua Primo For 4 Games For Exposing Himself To Women

By -
Image
  The NBA has suspended former San Antonio Spurs guard  Joshua Primo   for four games   ... after it says it found he exposed his private parts to multiple women. The league announced the ban on Friday morning ... saying an investigation into the free agent revealed he had "engaged in inappropriate and offensive behavior." NBA officials called his actions "conduct detrimental to the league." They did, however, note that they "did not find evidence that he engaged in any sexual or other misconduct apart from these brief exposures." "Primo maintains that his conduct was not intentional," the league said. Dr. Hillary Cauthen , Primo's former therapist, was the first to  bring the allegations  against Primo to light after she claimed last fall that he exposed himself to her on nine separate occasions. Dr. Cauthen's attorney,  Tony Buzbee , alleged the Spurs were aware of Primo's actions, but didn't take action. Cauthen went on to file
Read more

Sky Sports' On-Air Mix-Up: Chelsea Players Mistakenly Introduced as Axel Disasi Instead of Noni Madueke in Carabao Cup Semifinal

By -
Image
 Sky Sports were left red-faced after an on-screen graphic mistakenly introduced Chelsea defender Axel Disasi as Noni Madueke on Tuesday night. The pair were both the scoresheet as the Blues thrashed Middlesbrough 6-1 at Stamford Bridge in the second leg of the Carabao Cup semi-final to boo their place at Wembley. But when Disasi spoke to Sky Sports after the game, an on-screen graphic introduced him as Madueke instead. Madueke is four years younger than his Chelsea teammate, plays in a different role and is English, while Disasi is French. Viewers immediately spotted the mistake and took to social media to flag up the glaring error.  Sky Sports with a huge mistake as that is Axel Disasi, not Noni Madueke,' another added, while a third described the gaffe as a 'howler'. A fourth commented: 'Sky sports calling Disasi Madueke. They’ve done it again.' Disasi scored Chelsea's third goal in the 6-1 rout, converting Raheem Sterling's cross at the far post after th
Read more