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Yoon Suk Yeol - 1 Kim Dae - 1 Jumong Kim - 1 Oskar Pietrewicz - 1 Pietrewicz - 1
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Korea Aerospace Industries - 1 LIG - 1 Hyundai Rotem - 1 Hanwha Aerospace - 1 CNBC - 1 South Korean - 1

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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
☆ Inside South Korea's race to become one of the world’s biggest arms dealers
  + stars: | 2023-05-29 | by ( Joyce Lee Josh Smith | Joyce Lee | Josh Smith | ) www.reuters.com   time to read: +10 min
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.
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