• World - Asia
  • Updated: November 24, 2022

South Korea’s President Yoon To Step Up Arms Exports

South Korea’s President Yoon To Step Up Arms Exports

South Korea’s President Yoon Suk-yeol has pledged to step up efforts to boost weapon exports and secure cutting-edge defence technologies as he aims to build the country’s weapon industry.

On Thursday, Yoon hosted a meeting on promoting defence exports for the first time since taking office in May.

Yoon in a statement said; “The defence industry is a new future growth engine and the pivot of the high-tech industry.

“With the intensifying competition for technological supremacy, we need to secure technological competitiveness to develop game-changing weapon systems for future wars.”

Yoon called for better conditions for defence contractors to carry out research and investment and the establishment of an ecosystem capable of fostering a more export-oriented industry structure.

The meeting came four months after South Korea clinched its biggest-ever arms deal with Poland, estimated at up to 20 trillion Korean Won ($15bn).

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