According to the Korea Times, South Korea is known as the country with the fastest growing arms exports in the world.
Publish dateMonday 25 July 2022 - 10:29
Story Code : 256106
Afghan Voice Agency (AVA): Korea Times wrote: According to the recent report of Korea Export and Import Bank, the country's arms exports reached a record of more than 7 billion dollars last year.
South Korea's exports in the period of 2017-2021 were 177% more than in the period of 2016-2012. South Korea's exports have by far the highest growth among the top 20 exporters, followed by Australia (98%) and France (59%).
South Korea's share of global arms exports has almost tripled from 1% to 2.8%. It is currently the eighth largest arms exporter in the world and the second largest arms exporter in Asia (after China).
South Korea's position has risen rapidly from 31st on the SIPRI Arms Transfer Database in 2000.
The export of naval vessels has grown by 1660% in the period of 2017-2021 compared to the period of 2016-2012. It is estimated that South Korea's arms exports will continue to grow. This figure is expected to reach 10 billion dollars in 2022.
The Philippines and Indonesia are the biggest buyers of South Korea's weapons, accounting for 16 and 14 percent of its sales, respectively. Although the Asian continent will remain an important market, South Korea is expanding its global presence with new military hardware.
In January, South Korea signed a deal with the United Arab Emirates to export Cheonggang-2 medium-range anti-aircraft missiles, produced by the South Korean Defense Development Agency, in what was the country's largest arms export deal.
South Korea's exports in the period of 2017-2021 were 177% more than in the period of 2016-2012. South Korea's exports have by far the highest growth among the top 20 exporters, followed by Australia (98%) and France (59%).
South Korea's share of global arms exports has almost tripled from 1% to 2.8%. It is currently the eighth largest arms exporter in the world and the second largest arms exporter in Asia (after China).
South Korea's position has risen rapidly from 31st on the SIPRI Arms Transfer Database in 2000.
The export of naval vessels has grown by 1660% in the period of 2017-2021 compared to the period of 2016-2012. It is estimated that South Korea's arms exports will continue to grow. This figure is expected to reach 10 billion dollars in 2022.
The Philippines and Indonesia are the biggest buyers of South Korea's weapons, accounting for 16 and 14 percent of its sales, respectively. Although the Asian continent will remain an important market, South Korea is expanding its global presence with new military hardware.
In January, South Korea signed a deal with the United Arab Emirates to export Cheonggang-2 medium-range anti-aircraft missiles, produced by the South Korean Defense Development Agency, in what was the country's largest arms export deal.
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