The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Builders vie for leadership in modular construction

  • 3

    INTERVIEW'Coexistence of different art hubs across Asia is necessary': Art Week Tokyo Director

  • 5

    Austrian former nurse of Korean leprosy patients dies at age 88

  • 7

    Korea picks up 1st gold in roller skating

  • 9

    Top 1% of singers earned $3.4 mil. each on average in 2021: data

  • 11

    Yoon meets police officers, firefighters on Chuseok holiday

  • 13

    New York City area gets one of its wettest days in decades, as rain swamps subways and streets

  • 15

    FM visits France to campaign for Korea's World Expo bid

  • 17

    With teammate's help, inconsolable shooter regroups in time to win bronze

  • 19

    Korea wins bronze in mixed team pistol event for 14th shooting medal

  • 2

    Poll shows 79% of young Koreans agree on need to improve ties with Japan

  • 4

    What to know and what's next for Travis King, the American soldier who ran into North Korea

  • 6

    S. Korea lose to N. Korea in women's football quarterfinals

  • 8

    Korea to extend $5 mil. worth of fertilizer aid to Ukraine via US agency

  • 10

    Households in capital area hold 70% more in assets than non-metropolitan families: data

  • 12

    Korean industry minister visits Africa for World Expo bid, economic ties

  • 14

    Korean baseball team trying to adjust to playing surface, new ball in China

  • 16

    Republicans reject own funding bill, US government shutdown imminent

  • 18

    What happens if US government enters a shutdown?

  • 20

    Korean diver Woo Haram bags 9th Asian Games medal

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Mon, October 2, 2023 | 03:39
Arms exports reach record $1.19 bil.
Posted : 2011-01-04 17:13
Updated : 2011-01-04 17:13
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
By Lee Tae-hoon

Despite the global economic recession, Korea’s weapons exports hit a record high of $1.2 billion last year, up about 2 percent or $20 million from 2009, a defense official said Tuesday.

“It was a remarkable achievement, considering that the signing of major contracts were postponed and the global economy was in a slump in 2010,” Chung Jae-yoon, spokesman of the Defense Acquisition Program Administration (DAPA), said.

The country’s arms exports, which nosed dived to $253 million in 2006, increased for the fourth year in a row last year, making it one of the country’s new growth drivers.

However, the state-run acquisition agency fell short of meeting its 2010 export target of $1.5 billion, mainly because of a failure to sell T-50 trainer jets to Singapore and partly due to a delay in exporting K9 howitzers to Australia and Egypt.

"Above all, the failure to export T-50 trainer jets last year largely attributed to the lower result," Chung said, adding that the export of the K9 has been postponed due to political circumstances in Australia and Egypt.

Earlier, DAPA pushed to export $500 million worth of the indigenous jets to Singapore, but failed to do so due to its high price. The underperformance of the K9 self-propelled howitzers in the wake of North Korea’s artillery attack on Yeongpyeong Island in November last year is also blamed for its slow sales.

Korea is planning to revamp its arms industry with an ambitious goal of increasing arms exports to $4 billion by 2020.
Emailleeth@koreatimes.co.kr Article ListMore articles by this reporter
 
miguel
wooribank
LG
Top 10 Stories
1Trapped along borders Trapped along borders
2[INTERVIEW] Risk-averse culture is forcing daring creators to flee showbiz INTERVIEWRisk-averse culture is forcing daring creators to flee showbiz
3Koreans adapt to soaring food prices Koreans adapt to soaring food prices
4Education ministry prohibits parents from recording classes Education ministry prohibits parents from recording classes
5[VIDEO] Bustling Chuseok: Namsan Hanok Village immerses visitors in Korea's rich traditions VIDEOBustling Chuseok: Namsan Hanok Village immerses visitors in Korea's rich traditions
6Builders vie for leadership in modular construction Builders vie for leadership in modular construction
7Are 'finfluencers' helping or harming investment community? Are 'finfluencers' helping or harming investment community?
8Value, consumer goods, financial stocks expected to gain momentum after Chuseok holiday Value, consumer goods, financial stocks expected to gain momentum after Chuseok holiday
9Will blue crabs from Italy arrive on Korean dining tables?Will blue crabs from Italy arrive on Korean dining tables?
10[INTERVIEW] ROK-US alliance is win-win partnership: KUSAF chief INTERVIEWROK-US alliance is win-win partnership: KUSAF chief
Top 5 Entertainment News
1M+ deputy director discusses Seoul's potential to challenge Hong Kong as Asia's art hub M+ deputy director discusses Seoul's potential to challenge Hong Kong as Asia's art hub
2[INTERVIEW] 'Coexistence of different art hubs across Asia is necessary': Art Week Tokyo Director INTERVIEW'Coexistence of different art hubs across Asia is necessary': Art Week Tokyo Director
3Trailblazing nonagenarian artist honored for redefining Korean fiber art Trailblazing nonagenarian artist honored for redefining Korean fiber art
4[INTERVIEW] With '30 Days,' Kang Ha-neul finds new level of comfort in acting INTERVIEWWith '30 Days,' Kang Ha-neul finds new level of comfort in acting
5Rwandan artists bring diversity to Seoul's art scene Rwandan artists bring diversity to Seoul's art scene
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group