S. Korea's arms exports record high in 2014

By Jun Ji-hye

The nation’s arms exports reached $3.6 billion in 2014, the largest yearly amount since 2006 when the Defense Acquisition Program Administration (DAPA) was established, according to DAPA Sunday.

In 2013, sales of exported weapons stood at $3.42 billion.

“The figure has gradually increased since 2006 and recorded the highest level last year,” said a DAPA official.

In 2006, the agency’s total exports reached only $250 million.

“The increased value of exports is evidence that the technology of the nation’s defense industry has developed that much,” the official said. “In the past, the nation mainly exported simple components such as ammunition, but now the trend has changed to exporting weapons system such as warships, aircraft and self-propelled howitzers.”

The export market has also widened to Europe and South America as well as Southeast Asia, he added.

For instance, a major deal was signed on Dec. 17 by Samsung Techwin Co. and Poland’s defense contractor Huta Stalowa Wola. Under the deal, the former sold 120 locally developed K-9 self-propelled howitzers, with a total estimated value of about $320 million, according to the DAPA.

Other deals included a $1.2 billion order from the Royal Malaysian Navy to build six corvette ships in November and a $420 million contract with the Philippines in March to export 12 FA-50 fighter jets.

“We expect this year’s volume to soar to $4 billion as South Korea has been pushing further to make inroads into the overseas defense market with diverse, high-tech-based items,” said another DAPA official.

Such successful accomplishment was notable, considering that the DAPA and defense industry have had rough time last year amid allegation over a series of corruption scandals involving arms deals.

Since its establishment in November, a joint probe team composed of prosecutors and military officers has been conducting a comprehensive investigation into possible corruption.

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