The fundamentals of South Korea’s defense industry remain strong, but exports have slowed amid contract delays and the fallout from President Yoon Suk-yeol’s abortive declaration of martial law in December.
Credit: Kris Christiaens / Alamy Stock Photo
At first blush, South Korea’s defense sector appears to have had another banner year in 2024 with exports of $9.5 billion and major sales to Australia, Poland, Romania and Saudi Arabia. The combined operating profit of the four largest defense contractors—Hanwha Aerospace, Hyundai Rotem, LIG Nex1...
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Debrief: S. Korea’s Booming Defense Sector Grapples With Headwinds is published in Aerospace Daily & Defense Report, an Aviation Week Intelligence Network (AWIN) Market Briefing and is included with your AWIN membership.
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