The US$17 billion worth of South Korean arms sales this year has already more than doubled the full-year record set last year, and insiders expect industry growth to continue against the backdrop of the Ukraine war and regional tensions.
But while Seoul’s goal for the country to eventually become one of the world’s top four arms exporters could see it surpass China – which currently holds the fourth position – analysts say that competition between them in the sector is unlikely, because their target markets fundamentally differ.
Already a subscriber? Log in
5.5 PAYDAY OFFER: 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
