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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

☆ Japan and South Korea defense stocks jump after Hamas attack, aviation stocks slide
▼ + stars: | 2023-10-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

At his first troop review Saturday, Kishida renewed his pledge to consider "all options," including acquiring enemy base strike capability. Japanese and South Korean defense stocks surged on Tuesday as both stock markets returned to their first day of trading following the weekend attack of Israel by Palestinian militants Hamas. In South Korea, defense heavyweights Hanhwa Aerospace — which builds artillery and air defense systems — gained 2.23%, while Korea Aerospace Industries rose 4.07%. KAI produces fighter jets and aviation platforms for the South Korean military. Smaller South Korean defense players saw bigger gains.

Persons: Fumio Kishida, Kishida, Israel, KAI Organizations: Japan's, Defense Force, Hamas, Hanhwa Aerospace, Korea Aerospace Industries, South Korean, Kawasaki Heavy Industries, Japan's Self Defense Forces Locations: Japan, Tokyo, Israel, Gaza, South Korea

☆ 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

☆ North Korea says it will launch its first-ever military spy satellite to monitor U.S. drills
▼ + stars: | 2023-05-30 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

SEOUL, SOUTH KOREA - FEBRUARY 09: People watch a television show North Korea's 75th anniversary of the founding of the armed forces day military parade released by Korean Central News Agency (KCNA) in Seoul, South Korea. Chung Sung-jun | Getty Images News | Getty ImagesNorth Korea announced its plans to launch its first-ever military spy satellite – giving a lift for some South Korean and Japanese defense stocks. North Korean military official Ri Pyong Chol said in a Monday statement that Pyongyang plans to launch a satellite with the aim to track "dangerous" actions by the U.S., pointing to its recent joint military drills taking with South Korea. North Korea claimed the event "fully proves how the enemy is making preparations for the military act of aggression on the DPRK," referring to its official name, the Democratic People's Republic of Korea. Defense stocks riseShares of South Korean defense companies Firstec and Victek rose 3.8% and 3.3% respectively Tuesday afternoon, returning from a market holiday Monday.

South Korean companies do not disclose the unit prices for their weapons, which are often sold with support vehicles and spare parts. That will include building South Korean arms on license in Poland, officials in Seoul and Warsaw said. "It may work for some countries at very, very low volume," he added of Polish-brokered South Korean weapons sales, discussing challenges the joint operation might face. The 2022 arms deal began with South Korean companies signing a framework agreement with the Polish government. Seoul has since approved at least some South Korean weapons components for use in Ukraine.

☆ World-class ships and new supersonic jets mark the quiet rise of a new defense industry powerhouse in Asia
▼ + stars: | 2023-03-10 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

South Korea's defense industry has seen meteoric growth in recent years. 2023 is also shaping up to be a good year for South Korea's defense industry. South Korea's defense industry was originally tailored to meet the country's own needs, and Seoul assisted its growth with subsidies and other incentives. As South Korea's defense products increased in quality, so too did its exports. The South Korean defense industry's most anticipated product might be the KF-21 Boramae, a multi-role combat jet optimized for air-superiority missions.

☆ 'No going back' for S.Korea, Indonesia defence cooperation after jet funding dispute
▼ + stars: | 2023-02-17 | by ( Josh Smith | ) www.reuters.com time to read: +2 min

SEOUL, Feb 17 (Reuters) - Defence cooperation between South Korea and Indonesia will expand, diplomats from the two countries said on Friday, after a dispute over funding for a joint fighter jet project was resolved last year. "I think both sides are committed and there is no going back on this important initiative." The next-generation aircraft developed by Korea Aerospace Industries (047810.KS) (KAI) is designed to be a cheaper, less stealthy alternative to the U.S.-built F-35, on which South Korea relies. Indonesian Ambassador Gandi Sulistiyanto noted that Indonesian pilots were in South Korea to train with the new jet. President Yoon Suk-yeol has pledged to step up efforts to boost the export of weapons and secure cutting-edge defence technologies as he aims for South Korea to become the world's fourth-largest arms exporter.

☆ South Korea's Yoon looks to boost arms exports, develop defence tech
▼ + stars: | 2022-11-24 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

SEOUL, Nov 24 (Reuters) - South Korea's President Yoon Suk-yeol pledged on Thursday to step up efforts to boost weapons exports and secure cutting-edge defence technologies as he aims to build the country's weapons industry into the world's fourth-largest arms exporter. Yoon hosted a meeting on promoting defence exports for the first time since taking office in May, designed to explore ways to shift the mainstay of the industry to exports from domestic supplies. "The defence industry is a new future growth engine and the pivot of the high-tech industry," Yoon told the meeting held at Korea Aerospace Industries Ltd (047810.KS), South Korea's sole warplane developer located in the southeastern city of Sacheon. In August, Yoon unveiled a goal of nurturing the country's defence industry into the world's fourth-largest, after the United States, Russia and France. "Some say that there might be a vacuum in our military force due to defence exports as part of their political offensive, but the government will maintain thorough military readiness posture while actively supporting those exports," Yoon said.

☆ The scramble to rearm Ukraine is transforming NATO in a way that would've been hard without Putin's help
▼ + stars: | 2022-11-22 | by ( Rachel Nostrant | ) www.businessinsider.com time to read: +8 min

NATO countries have scrambled to rearm and resupply Ukraine as it fights off Russia's invasion. Troops from six NATO countries during a joint terminal attack controller training in Latvia on April 6. Germany has agreed to send some older hardware to countries that send their Soviet-made tanks and armored vehicles to Ukraine. Interoperability with weapons and alignment on tactics will also make it "veritably impossible for these countries to leave NATO," Banerjee added. "The weapons are from NATO, they're going to be from NATO, they will be back-built, and these components will be from NATO countries."

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