SEOUL, Dec. 2 (Korea Bizwire) — Global defense revenues reached an all-time high in 2024 as the wars in Ukraine and Gaza fueled a surge in weapons demand, particularly across Europe, according to new data from the Stockholm International Peace Research Institute (SIPRI). South Korea’s leading defense companies continued their rapid ascent, pushing the country into [...]
WASHINGTON, Oct. 14 (Korea Bizwire) – More than a dozen South Korean firms showcased their high-tech military products at an exhibition in Washington on Monday, seeking to create or firm up their presence in the U.S. market, as Seoul and Washington pursue deeper defense industrial cooperation to confront North Korea and other shared challenges. From [...]
SEOUL, March 30 (Korea Bizwire) — South Korea will extend support for local defense firms this year to develop key components of major weapons with indigenous technologies, the arms procurement agency said Tuesday. The Defense Acquisition Program Administration (DAPA) designated 14 military hardware development projects and began receiving applications from local firms to replace their [...]