According to the exhibition's organizing committee, the sixth defense exhibition is scheduled to begin at the Korea International Exhibition Center (KINTEX) on September 4, 2024. As of November 29, 2023, some 40 companies submitted applications, including LIG Nex1, a defense contractor in South Korea, and domestic engine builder STX Engine.
The organizing committee will seek decision-makers in weapons system acquisition in about 50 nations to assist in facilitating the export efforts of domestic arms makers. Without disclosing details, the committee said it also plans to invite a total of foreign defense ministers from Eastern Europe and the Middle East, as well as commanders and chiefs of staff from the land forces of 25 countries. During the event, a security seminar will take place, involving military officials from the United States, Ukraine, and Israel.
In February 2023, South Korea unveiled its scheme to invest 1.5 trillion won ($1.1 billion) to develop defense technologies under a private-military cooperation project by 2027. The country's arms exports reached $17.3 billion in 2022, marking about a fivefold increase compared to the average defense exports for the preceding five years. This spike was driven by the country securing large-scale export deals, including contracts with Poland to supply K2 battle tanks, K9 self-propelled howitzers, and FA-50 light attack aircraft.
South Korea is currently in a discussion with Saudi Arabia for a long-term arms provision project in many different areas such as anti-air defense systems and firepower weapons. The presidential office made the statement during South Korean President Yoon Suk-yeol's state visit to the Middle Eastern country in October 2023.
reporter
Kim Joo-heon
jhkim123@ajunews.com
