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☆ South Korea wants to become one of the world's biggest arms dealers
▼ + stars: | 2023-11-27 | by ( Victor Loh | Nessa Anwar | ) www.cnbc.com time to read: +1 min

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. "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 Nex11 and Hyundai Rotem. But are these factors enough for South Korea to become one of the world's biggest arms dealers?

Persons: Yoon Suk Yeol, Kim Dae, Jumong Kim, Oskar Pietrewicz, Pietrewicz Organizations: Korea Aerospace Industries, LIG, Hyundai Rotem, Hanwha Aerospace, CNBC, South Korean Locations: South Korea, Israel, Netherlands, Turkey, Seoul, United States, Russia, France, Korean, Hanwha, Korea, China, Poland

Two officials from a Korean defence company confirmed the syndicated loan plan. Two officials at South Korean banks said there would be loans, but did not specify the type. That deal was worth $13.7 billion, South Korea's largest to date. The South Korean government didn't immediately provide a comment when asked for one. The South Korean government official did not elaborate on the size of the potential syndicated loan.

Persons: Kacper, didn't, 1,320.4500, Cynthia Kim, Seunggyu Lim, Jihoon Lee, Josh Smith, Gerry Doyle Organizations: REUTERS, Rights, Reuters, South Korean, South, Korea's, Hyundai Rotem Co, Hanwha Aerospace, Hyundai Rotem, U.S, Thomson Locations: South Korea, Wierzbiny, Orzysz, Poland, Rights SEOUL, South Korean, South, Seoul, Ukraine, Russia, Europe

☆ South Korean defense stocks power ahead as overseas interest grows for weapon systems
▼ + stars: | 2023-08-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

In this handout image released by the South Korean Defense Ministry via Dong-A Daily, a missile is fired during a joint training between the United States and South Korea on June 6, 2022 in East Coast, South Korea. South Korean Defense Ministry | Getty ImagesSouth Korean defense stocks have recorded stellar gains over the past 12 months, with one stock soaring more than 60% as tensions on the Korean Peninsula accelerate. The company manufactures air defense systems, armored fighting vehicles and artillery systems. Escalating tensions in the Korean Peninsula have also kept interest in South Korean weapon platforms high. Tech and industrial baseMorgan Stanley is optimistic about the outlook for the South Korean defense industry.

Persons: Ukraine —, Morgan Stanley, National Defense Mariusz Blaszczak, Maffei, Janes, Youngsoo Han, Kayoung Lee, KAI, Victor Cha, Cha, Yoon Suk Organizations: South Korean Defense Ministry, Getty, Hanhwa Aerospace, Hanhwa Group, Peace Research Institute, The, North, South Korea —, South Korean, K9, Hyundai Rotem, Korea Aerospace Industries, Korean, Poland's, National Defense, Nikkei, NATO, Krauss, South, FA, Samsung Securities, ., Center for Strategic, International, CNBC Locations: United States, South Korea, East Coast , South Korea, Ukraine, South, Stockholm, The U.S, East, Europe, Korean, U.S, Jeju, North Korea, Asia, Russia, Poland, Polish, South Korean, Malaysia, . Tech, Korea

☆ Wall Street pros reveal their top defense stocks — and the same names keep coming up
▼ + stars: | 2023-02-08 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

The iShares U.S. Aerospace & Defense ETF (ITA), which tracks the performance of U.S.-listed aerospace and defense stocks, rose 8.8% in 2022 and is up more than 2% this year. He said defense stocks are "one way to protect the other parts of the portfolio that are under pressure." "I'm bullish on aerospace and defense stocks, and I think those are names that should be in a longer-term portfolio. The investment bank described Moog as a "transition story" that will benefit from an "extended defense spending lift." Other South Korean stocks with exposure to the defense sector include Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering.

☆ Norway to order 54 new army tanks from Germany
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +1 min

OSLO, Feb 3 (Reuters) - Norway will order 54 new German-made Leopard 2 tanks for its army from the Krauss-Maffei Wegmann Group, and will get an option to buy a further 18 tanks at a later time, the government said on Friday. "We ensure that we have the same tanks as our Nordic neighbours and many key NATO allies," Prime Minister Jonas Gahr Stoere told a news conference. The Nordic NATO member, which shares a 196 km (122 miles)Arctic border with Russia, had planned to choose either German-made Leopard 2 A7 tanks or the rival Korean-produced K2 Black Panther, made by Hyundai Rotem (064350.KS). Norway had originally planned to acquire 72 tanks, but in recent months discussed a scaled-down purchase after the country's chief of defence recommended spending more funds on helicopters, drones and long-range artillery. Reporting by Terje Solsvik, editing by Gwladys Fouche and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

SEOUL, Nov 17 (Reuters) - South Korean and Saudi Arabian leaders pledged stronger ties on Thursday in the fields of energy, defence industry and building projects, as the oil-rich kingdom signed investment agreements worth $30 billion with South Korean companies. "In particular, he said he would like to drastically strengthen cooperation with South Korea in the areas of defence industry, infrastructure and construction," Yoon's office said. Saudi-based Asharq TV quoted the kingdom's investment minister as saying deals signed on Thursday were worth $30 billion. "The (South Korean) government will actively support the successful implementation of cooperative projects which apply Korea's state-of-the-art architecture ... in NEOM," said South Korea's trade minister, Lee Chang-yang. Shares in Lotte Fine Chemical (004000.KS), which signed an agreement for chemical industry cooperation with the Saudi Ministry of Investment, rose 2.1%.

☆ Poland expected to buy S.Korean rocket launchers after tank, howitzer sales
▼ + stars: | 2022-10-19 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

SEOUL, Oct 19 (Reuters) - Poland is set to buy rocket launchers in its latest arms deal with South Korea, following shipments of tanks and howitzers, as it ramps up arms imports after Russia's invasion of Ukraine, South Korean officials said on Wednesday. Poland is expected to sign a deal with Hanwha Defense, the defence unit of South Korea's Hanwha Corp (000880.KS) this week, to buy K239 Chunmoo multiple rocket launchers, officials said. Under the contract, South Korea will supply 288 multiple rocket launchers worth $6 billion, the Yonhap news agency reported. The expected agreement comes as South Korean companies shipped the first batch of tanks and howitzers to Poland. Poland has also agreed to buy 48 FA-50 fighter jets from South Korea.

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