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Yoon sees weaponry exports as a growth engine

Yoon sees weaponry exports as a growth engine

Yoon sees weaponry exports as a growth engine

Yoon sees weaponry exports as a growth engine

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  • Yoon Suk-yeol pledges to boost the country’s high-tech arms industry.
  • The aim is to make South Korea the world’s fourth-largest arms exporter.
  • Yoon hosted a meeting on promoting defense exports.
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President Yoon Suk-yeol committed to promoting weapons exports and securing cutting-edge defense technologies to build South Korea’s weapons industry and make it the world’s fourth-largest arms exporter.

Yoon hosted a meeting on promoting defense exports for the first time since assuming office in May to study methods to shift the industry’s emphasis from domestic supply to exports.

Yoon told a meeting at Korea Aerospace Industries, South Korea’s sole warplane developer in Sacheon, that the defense industry represents a new growth engine and the high-tech industry’s pivot.

We need technological competitiveness to design game-changing weapon systems for future wars.

Yoon urged for stronger research and investment conditions for defense contractors and an export-oriented industry ecosystem.

The meeting came four months after South Korea’s biggest-ever arms agreement with Poland, which included tank and artillery exports.

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Yoon wants South Korea’s defense sector to be the world’s fourth-largest behind the US, Russia, and France.

Australia and Norway are looking to increase defense cooperation, which would assist South Korea to confront North Korean threats and contribute to international peace and stability, Yoon said.

“Some suggest there may be a gap in our military force owing to defense exports as part of their political offensive,” Yoon stated.

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