Defense Exports Exceed $1 Bil.
By Jung Sung-ki
Staff Reporter
The nation sold about $1.03 billion worth of weapons and defense articles this year, up 22 percent from last year's $840 million and the greatest amount ever, the Defense Acquisition Program Administration (DAPA) said in a news release Monday. In 1975, the country first exported defense items, mostly rifle ammunition worth some $470,000, to Indonesia, the Philippines and the United States, it said.
``It is especially meaningful as it comes amid a worldwide economic downturn,'' a DAPA official said. ``Through its continued efforts, our agency was able to increase the amount of the country's defense exports to some $844 million in 2007, up from an annual average of $250 million in previous years.''
He said the goal of reaching the $3-billion mark in about four years was well attainable as the country is poised to start selling its indigenous training jet T/A-50, as well as its next generation K-2 main battle tank.
Earlier this year, the DAPA signed a contract with Turkey over the transfer of tank development technology as a key factor in increasing the country's overseas arms sales.
Under the deal, valued at $400 million, South Korea is to help Turkey develop a semi-indigenous main battle tank by 2015 through the transfer of technology related to the design and development of K1A1 and K2 tanks.
South Korea will transfer key technologies regarding engine, gunnery and snorkeling systems to Turkey, which initially wants to build about 250 advanced main battle tanks, DAPA officials said. Seoul will provide more than 60 percent of the technology required to build the Turkish tanks.
The K2, jointly built by ADD and 20 domestic manufacturers led by Rotem, bears an indigenous 120mm/50-caliber smoothbore gun, and is considered a peer of the U.S. M1A2 SEP and the French Leclerc tanks.
It can reach speeds of up to 70 kilometers per hour on paved roads with gun stabilization and can cross rivers as deep as 4.1 meters using a snorkel.
Seoul is also making all-out efforts to sell its indigenous supersonic trainer T-50 Golden Eagle, the sale of which, experts say, would help the country become a global leader in arms exports.
Potential consumers for T-50s include the United Arab Emirates, Singapore, the United States and Greece.