South-east Asia’s arms market: Who’s down and who’s up?

South Korea’s success reflects a market where, besides price, politics matters.

Military officers examining sniper rifles at the Indo Defence Expo in Jakarta on Nov 2, 2022. PHOTO: AFP
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The global arms market is a very lucrative business.

The Stockholm International Peace Research Institute (Sipri) estimates that between 2012 and 2021, arms companies exported US$280 billion (S$386 billion) in equipment to countries around the world.

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