South Korea seeks to become fourth-largest global defence power
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South Korean President Lee Jae Myung said the country will devote a “larger-than-expected budget” in defence.
PHOTO: REUTERS
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SEOUL - South Korean President Lee Jae Myung said on Oct 20 that the country will devote a “larger-than-expected budget”
Mr Lee was speaking at South Korea’s largest-ever arms fair, the Seoul International Aerospace & Defence Exhibition 2025, where firms showed off new unmanned and artificial intelligence-enhanced weapons from howitzers to suicide drones in pursuit of more global defence sales
South Korea ranked 10th in arms sales as at 2023, according to the Stockholm International Peace Research Institute’s data on the top 100 arms companies.
“Being one of the top four powerhouses in the defence industry is by no means an impossible dream,” Mr Lee said.
“We will establish technological sovereignty by focusing investment on the development of technologies, parts and materials that must be secured independently, such as special semiconductors in the defence sector.”
To its overseas defence partners, South Korea pledges to share not only its weapons systems, but also “the technology and experience of building an industrial foundation”, he added.
Arms have become one of South Korea’s fastest-growing exports, especially since Russia’s invasion of Ukraine, inking multibillion-dollar deals selling everything from howitzers and ammunition to missiles and warships around the world. REUTERS
