Gov't, PPP agree on measures to help expand Korean arms exports
Published: 10 Feb. 2025, 18:54
![Acting Defense Minister Kim Seon-ho, center, speaks during a policy consultation meeting at the National Assembly on Feb. 10, to discuss ways to boost arms exports. [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2025/02/10/18a83257-accd-49ac-aecb-94018897acb1.jpg)
Acting Defense Minister Kim Seon-ho, center, speaks during a policy consultation meeting at the National Assembly on Feb. 10, to discuss ways to boost arms exports. [NEWS1]
Under the measures, more than 3 trillion won ($2 billion) will be spent by 2027 to foster 10 technology sectors, including artificial intelligence, space and high-end materials, according to Rep. Kim Sang-hoon, the PPP's top policymaker.
The government will also provide up to 5 billion won to each small and medium-sized arms manufacturer over the next two years, in addition to providing financial support through state-run institutions.
Korea aims to carve out a 5 percent share of the global arms export market to become the fourth-largest defense exporter by 2027.
Yonhap
with the Korea JoongAng Daily
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