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South Korean weapons in high demand from Malaysia to Poland, as war in Ukraine rages on
- South Korea’s defence exports jumped 134 per cent on year in 2022 to US$17.3 billion, as global buyers looked for weapons to be supplied fast
- The country has been ramping up its defence capacity because of the threat from North Korea and has come under pressure to help Ukraine directly
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Park Chan-kyongin Seoul
The raging war in Ukraine is propelling the growth of South Korea’s defence industry, with buyers such as Malaysia attracted by its trustworthy weapons that can be supplied at good prices in short order, analysts said.
One year after Russia invaded Ukraine, South Korean weapons manufacturers are being flooded with orders for missiles, self-propelled howitzers, tanks, aircraft and multiple-rocket launchers from across the globe.
South Korea’s defence exports jumped 134 per cent year on year in 2022 to US$17.3 billion, according to the Korea Institute for Industrial Economics and Trade (KIET).
Despite being dwarfed by giants such as the United States and Russia, South Korea has risen to become the eighth-largest arms exporter, carving out a 2.8 per cent share of global exports over the five years to 2021 – compared to a 1 per cent share in the previous five years – according to the Stockholm International Peace Research Institute.
“Weapons-buyers from abroad are beating a path to South Korea’s doors,” said defence industry analyst Jang Won-joon of KIET.
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