The Impact of the Russia-Ukraine War on Korean Defense Exports

Soonhyung Sim ()
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Soonhyung Sim: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 22-18, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: On February 24, Russia launched an all-out invasion of Ukraine. Contrary to initial expectations that the war would end early, strong resistance by the Ukrainian army and the incompetence of the Russian army overlapped, and the war is showing signs of prolongation. A long war seems inevitable as Ukraine’s resistance, backed by Western military support, intensifies and the armistice agreement faces difficulties. This paper explores the threats faced the Korean defense industry as well as opportunities for export growth amid a rapidly evolving global security order. A review of relevant defense data finds that, in order for Korean defense exports to take a leap forward, it is necessary to take full advantage of security gaps in Europe that the war in Ukraine has exposed. Especially, it is crucial to establish an export strategy that takes advantage of Europe’s common security and defense policy.

Keywords: defense; defense industry; defense exports; Russia-Ukraine war; weapons exports; weapons manufacturing; arms exports; arms manufacturing; EU; Russia; Ukraine; United States; Korea (search for similar items in EconPapers)
JEL-codes: F13 L64 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2023-01-11
New Economics Papers: this item is included in nep-cis, nep-int and nep-tra
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