SEOUL, Jan. 31 (Korea Bizwire) — South Korea’s K9 self-propelled howitzer, already a global bestseller, is positioned to expand its market reach even further, commanding approximately half of the world’s self-propelled artillery export market. Industry sources and international defense organizations report that while exact statistics vary due to the confidential nature of defense contracts, the K9′s [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea on Monday officially began the development of a homegrown interceptor system akin to Israel’s Iron Dome to bolster its defense against North Korean artillery threats, the state arms procurement agency said. The government plans to spend 479.8 billion won (US$329 million) through 2028 to develop the Low-Altitude [...]
SEOUL, Oct. 10 (Korea Bizwire) – Hamas’ surprise rocket attack on Israel has renewed security concerns in South Korea over Seoul’s capabilities to counter a potential attack from North Korea. Hamas unleashed a barrage of some 5,000 rockets on Israel last Saturday, with some of them bypassing Israel’s Iron Dome missile defense system, despite its known [...]
SEOUL, Aug. 19 (Korea Bizwire) – South Korea’s military said Thursday that it will carry out the largest-ever artillery drill near the border with North Korea to demonstrate its determination to retaliate against future provocations. The drill will take place in the afternoon, one day before South Korea marks the first anniversary of the North’s [...]
“North Korea’s attack should have little impact on the country’s financial sector, although downside risks associated with the United States raising its key interest rates and uncertainties coming out of China need to be checked. The government is ready to respond proactively to all uncertainties.” “There was a strengthening of the U.S. dollar compared with [...]