South Korea’s defence ministry is expected to spend about 350 trillion won ( US$ 260 billion ) between this year and 2028 to improve capabilities and maintain troops, equipment and facilities.
It has signed deals to get weapons, including military satellites, F-35A cunning fighter planes from the United States, and death robots from Poland.
Trekking UP ARMS EXPORT RANKS
South Korea is now the nation’s 10th largest producer of wings, and Seoul is aiming to become the fourth-largest by 2027.
South Korea’s defense market has been gradually expanding, according to industry participants who took part in the exhibition, with international companies taking it seriously as a rival.
The Asian government has always stated that it is self-sufficient and self-supporting when it comes to defense supplies, according to Mr. Lonn, managing director of Saab’s North Korean business.
” Based on domestic needs, Korea has experienced very rapid growth. Over the years, ( it has ) improved on quality, delivery capability, price levels and so on”.
Some CNA spoke with experts who agreed that the country will be able to achieve its goal of becoming a major supplier of weapons because the government places a premium on the sector.
” In Korea, there has been a major investment in human resources, but developing these people sources is not something that happens overnight, and has been a steady accumulation over day”, said Jee Hyo-keun, a professor at Konyang University’s division of military science and art.
The difference is between whether the accumulated systems are aimed at the defense or the civilian sectors. The Korean government has now made it abundantly clear that it wants to concentrate heavily on the defense industry.
To get there, South Korea is hoping to win deals with more places. It is looking to expand its list of countries that export defense systems right now.
One possible sector may be Vietnam. Up until 2022, when Moscow invaded Ukraine and Vietnam attempted to expand its options of supplies, the Southeast Asian nation used to get most of its products from Russia.
Prior to this agreement, Hanoi and Seoul had agreed to work together on a number of issues, including the high-tech and defense sectors.
The defense exhibition will continue through Sunday ( October 5 ).