SEOUL, Dec. 9 (Korea Bizwire) — South Korea was the world’s eighth-largest arms exporter in the 2017-2021 period, accounting for nearly 3 percent of the world’s total defense exports, an annual government report showed Friday. According to the Global Defense Market Yearbook 2022 released by the Korea Research Institute for Defense Technology Planning and Advancement, [...]
SEOUL, March 27 (Korea Bizwire) — South Korea has issued a joint statement with 20 other countries urging a halt to the supply of arms to Myanmar’s military regime on the occasion of the nation’s Armed Forces Day, Seoul’s foreign ministry said Sunday. The European Union also joined the call for the regime to cease [...]
WASHINGTON, Feb. 3 (Korea Bizwire) — South Korea is seeking to purchase six close-in weapon systems (CIWS) for its naval ships from the United States, U.S. congressional records showed Thursday. CIWS is a ship-based gun designed to detect and destroy short-range incoming missiles and enemy aircraft that have penetrated the outer defenses. The U.S. Department [...]
SEOUL, Jan. 17 (Korea Bizwire) — South Korea’s indigenous fighter jet KF-21 and K-9 artillery guns will be made available in the commercial market as brick-assembled toys. The Defense Acquisition Program Administration (DAPA) joined hands with local toy maker Oxford Co. to release miniature models of the KF-21, also known as the Boramae, within the [...]
SEOUL, Dec. 20 (Korea Bizwire) — South Korea was the world’s 9th-largest arms exporter in the 2016-2020 period, accounting for 2.7 percent of the world’s total defense exports, an annual government report showed Monday. According to the Global Defense Market Yearbook 2021 released by the Korea Research Institute for Defense Technology Planning and Advancement (KRIT), [...]
SEOUL, Jan. 16 (Korea Bizwire) – The United States sold more than 36 trillion won (US$30.58 billion) worth of weapons to South Korea over the past decade, government data showed Sunday, the latest sign underscoring Seoul’s heavy reliance on its key ally for defense. For 10 years through October 2016, South Korea purchased U.S. weapons [...]