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S. Korea Considers Private Funding for New Military Capabilities

S. Korea Considers Private Funding for New Military Capabilities

SEOUL, Jul. 18 (Korea Bizwire) — South Korea’s military is mulling over partly financing major firepower projects with private funds, an official said Tuesday. South Korea is pushing for the establishment of a “three-axis” platform to help defend itself against North Korea’s growing nuclear and missile threats. The three elements are the Kill Chain pre-emptive [...]

Kratos to Unveil Newest High Performance Class of Military Unmanned Aerial System Technology at 2017 Paris Air Show

Kratos to Unveil Newest High Performance Class of Military Unmanned Aerial System Technology at 2017 Paris Air Show

SAN DIEGO, Jun. 13 (Korea Bizwire) — Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), a leading National Security Solutions provider, today announced the company will officially unveil a new class of unmanned aerial systems that represent the future of air combat at the 2017 Paris Air Show. Kratos is at the forefront of unmanned aerial [...]

S. Korea, Fiji Agree to Boost Military Cooperation

S. Korea, Fiji Agree to Boost Military Cooperation

SEOUL, Jan. 25 (Korea Bizwire) – South Korea and Fiji agreed to promote bilateral military exchanges during their first defense ministers’ talks in Seoul on Wednesday.  Defense Minister Han Min-koo and his Fijian counterpart Ratu Inoke Kubuabola signed an memorandum of understanding to pave the way for defense cooperation, the Ministry of National Defense said. [...]

Gov’t Proposes 2017 Budget in Excess of Record 400 Trillion Won

Gov’t Proposes 2017 Budget in Excess of Record 400 Trillion Won

SEJONG, Aug. 30 (Korea Bizwire) – The South Korean government aims for a 3.7 percent increase in its spending next year to push the annual budget above the 400 trillion won (US$358 billion) mark for the first time, with steep rises planned for youth job creation, expansion of custom-made welfare benefits and stabilization of public [...]

S. Korea, U.S. Reach Decision to Deploy THAAD Defense System in Korea

SEOUL, July 8 (Korea Bizwire) – South Korea and the United States have agreed to deploy a high-tech antiballistic-missile interception system in the Northeast Asian country to upgrade the allies’ defense against North Korea’s increasing nuclear and missile threats, the defense ministry said Friday.  The decision came after five months of negotiations between Seoul and [...]

GE Picked as Preferred Bidder to Supply Engines for Next-generation Fighter Jets

GE Picked as Preferred Bidder to Supply Engines for Next-generation Fighter Jets

SEOUL, May 26 (Korea Bizwire) – South Korea’s state arms procurement agency on Thursday said it has picked U.S. company General Electric (GE) as the preferred bidder to supply engines for the country’s next-generation fighter jets.  The U.S. company has been picked as the supplier for the Korean Fighter Experimental (KF-X) program, according to the [...]