Last week, Korea's defense contractors signed deals with Poland to export fighter jets, battle tanks, and self-propelled howitzers worth 20 trillion won ($15.3 billion). Korea also launched a new 8,200-ton Aegis destroyer, which can intercept North Korea's ballistic missiles at sea. The week before last, the nation's first domestically developed KF-21 fighter jet carried out its first test flight after about six and a half years of development and 8.8 trillion won in investments.
The agreements to sell K2 tanks, K9 self-propelled howitzers and FA-50 light fighter jets to Poland were significant, as they marked the first such accords with a NATO member country. They reaffirmed the Korean weapons' technological competitiveness, laying a basis to stand shoulder to shoulder with the world's big-five weapons exporters ― the U.S., Russia, France, Germany and China.
They also opened the way for arms exports to other East European nations where national security concerns are mounting over Russia's war in Ukraine. This year, North Korea has made 19 military provocations by, for instance, launching missiles and firing multiple-rocket launchers. Last Wednesday, Kim Jong-un even warned that “the Yoon Suk-yeol government and his military will face annihilation,” should they make any dangerous attempts like a preemptive strike.
Against this backdrop, South Korea's successive weapons-related achievements will serve as a powerful shield that dampens North Korea's will to provoke. Describing the successful test flight of the KF-21 and the launch of the Jeongjo the Great destroyer as “splendid feats toward self-defense,” President Yoon vowed to develop the defense industry into a high-tech strategic sector leading economic growth. Strengthening our weapons' competitive edge will not only ensure security, but also boost the economy.
Korea seeks to diversify its export market from China to Europe in areas like nuclear power generation, the defense industry, semiconductors and renewable energy. The latest achievements will provide a stepping stone for such a shift. Korea is the sixth-largest military power worldwide, but its arms exports are in ninth place. We expect the country to emerge as one of the big-six weapons exporters.