South Korea Weapons Makers Must Think Beyond Ukraine
The defense sector may be thriving, but Seoul should remember that its upper hand lies in marrying manufacturing with precision electronics in times of peace.
Weapons trade.
Photographer: Jung Yeon-Je/AFP/Getty Images
South Korea’s location — placing it under pressure from both North Korea and China — has driven it to assume a more powerful defense posture. Previously focused on cars and chips, the nation has also harnessed its manufacturing prowess to become the world’s ninth-largest weapons supplier. Seoul should press its case for becoming an even larger part of the international arms market, while ensuring it doesn’t lose sight of its own tech expertise.
Russia’s ongoing invasion of Ukraine is adding momentum to global demand, with neighbors bolstering their defenses as a counter to Moscow’s aggressive stance. That’s helping South Korean suppliers, including Hanwha Aerospace Co., which makes land-based artillery for a growing list of European clients. Escalating tensions closer to home — with North Korea and in the Taiwan Strait — as well as conflicts like Israel’s war in Gaza, drove global military spending 9% higher last year to $2.2 trillion.