Export of the South Korea’s defense: problems and prospects

Abstract

The Republic of Korea aims to become one of the key players in the global arms market by 2027. The military conflict in Ukraine allowed South Korea not only to increase the supply of military products to NATO countries, but also win additional market share in the East Asian, taking advantage of the decline in Russian military exports. At the same time, South Korea is actively signing contracts for the supply of military equipment with the countries of the Middle East. The growth in exports of South Korean military-industrial products is due to the fact that currently the ROK’s weapons have a number of competitive advantages for buyers in Europe and the Asia-Pacific region. First of all, South Korean weapons are compatible with American systems. However, the cost of equipment from the Republic of Korea is sometimes several times lower than military-industrial complex products from the United States or Eurozone countries. However, despite the bright plans in the medium term, the Republic of Korea may face several challenges including inevitable competition with defense industry leaders such as the USA, Russia, Germany, France and the potential worsening of relations with China due to the active increase in arms supplies to India and Vietnam, that could limit the rapid growth of exports of the South Korean military-industrial complex.