Defense Industry to be Restructured

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Defense Industry to be Restructured

The government intends to restructure the defense industry.
According to the Ministry of Defense and the Ministry of Industry and Energy on December 3, the government decided on a basic principle to restructure the defense industry and to make concrete plans including mergers between defense industry companies.
The two ministries will make a final plan by the end of this year.
The government has already sent a revised bill for the special defense industry law to the National Assembly.
Following the revision, it is forecasted that considerable changes in the industry will occur.
Defense industry analysts are saying that M&As in the defense industry companies have been impossible until now, but if the bill passes through the National Assembly, take-overs in defense industry companies would be possible.

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