Challenges and Strategies for Sustaining the Growth of Korea's Defense Exports

Resources

Publications

2026.06.17.

According to the Stockholm International Peace Research Institute (SIPRI), South Korea ranked as the world's tenth-largest arms exporter in 2024. Major Korean defense companies—including Hanwha Group, LIG Nex1, Hyundai Rotem, and Korea Aerospace Industries (KAI)—have also been included in SIPRI's list of the world's top 100 defense companies, underscoring Korea's emergence as one of the fastest-growing defense exporters in the global market.

Korea's defense exports reached a record high of approximately USD 17.3 billion in 2022. The landmark contracts with Poland for K2 main battle tanks and K9 self-propelled howitzers further established Korea as a major defense supplier in the European market. Building on this momentum, the Korean government has announced its policy objective of becoming one of the world's top four defense exporters by 2027.

For more details, please refer to the full report attached below.

Attachment Challenges and Strategies for Sustaining the Growth of Korea's Defense Exports.pdf

Expertise