(Dan Tri) – South Korea is taking advantage of the advantages of the defense industry to expand its market share in the global arms market.
A Korean K9 self-propelled gun supplied to Poland (Photo: Reuters).
According to data from the Korean Ministry of National Defense, South Korea’s arms revenue in 2022 will reach more than 17 billion USD, skyrocketing compared to more than 7 billion USD a year earlier, in the context of the West searching for supplies to
South Korea is taking advantage of its largest ever arms contract, worth nearly 14 billion USD, with Poland to lay the foundation for its military industry.
The contract with Poland includes the supply of hundreds of Chunmoo rocket launchers, K2 tanks, K9 self-propelled guns, and FA-50 fighter aircraft.
South Korean and Polish officials say the partnership will help them conquer the European arms market, with Seoul being able to supply high-quality weapons faster than other countries, while Poland
`Czech Republic, Romania, Slovakia, Finland, Estonia, Latvia, Lithuania and other countries thought they could only buy defense equipment in Europe, but now they can buy it cheaper
Hanwha Aerospace currently holds 55% of the global market share for howitzers, this ratio is expected to increase to 68% after the contract with Poland.
In terms of delivery speed, according to Polish officials, South Korea handed over a shipment of 10 K2 tanks and 24 K9 self-propelled guns in December last year, just a few months after the two sides signed the contract.
In addition to speed of delivery, another advantage of the Korean defense industry is compatibility with US and NATO weapon systems.
However, Sash Tusa, a defense expert at Agency Partners research institute, said that although South Korea and Poland both have strong defense industries, their long-term plans may face many challenges.