SEOUL, Sept. 13 (Korea Bizwire) — South Korea’s industry ministry said Wednesday it discussed ways with Airbus Defense and Space to boost cooperation on the development of next-generation fighter jets and other advanced technologies. First Vice Industry Minister Jang Young-jin met with Airbus DS CEO Michael Schoellhorn in Seoul, and exchanged opinions on details about [...]
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 [...]
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 [...]
SEOUL, Jan. 31 (Korea Bizwire) – Defense chiefs of South Korea and the United States on Tuesday reaffirmed the planned deployment of an advanced missile defense system this year to counter growing threats from North Korea. Defense Minister Han Min-koo and U.S. Defense Secretary James Mattis talked over the phone to confirm that the Terminal [...]
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. [...]
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 [...]
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 [...]
SEONGJU, South Korea, July 13 (Korea Bizwire) – Thousands of residents in the southern town of Seongju took to the streets on Wednesday to protest the government’s designation of the town as a site for the deployment of an advanced U.S. antimissile system. Some 5,000 residents of the town in North Gyeongsang Province staged a [...]
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 [...]
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 [...]