Climbing the Export Ladder: Government Support for Korean Defense Exports and the Path to Becoming a Big Four Exporter

Won-Joon Jang (), Jae Pil Song () and Mi Jung Kim ()
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Won-Joon Jang: 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
Jae Pil Song: 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
Mi Jung Kim: 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 23-4, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: Korean defense exports have grown at a higher rate than anywhere else in the world in the five year period from 2017 to 2021, exploding by 177 percent and positioning Korea as the world’s eighth-largest defense exporter. Moreover, if after final accounting Korean defense exports came to more than USD 17 billion in 2022, Korea would in fact be the world’s fourth-largest arms exporter, surpassing the UK, Italy, China, and Germany. This paper analyzes recent defense market trends and prospects, compares and analyzes the Korean defense export support system with those in place in major defense exporters such as the United States, France, and Israel, and identifies a path by which Korea can become one of the so-called Big Four major global arms exporters. Keywords: Korea, defense, defense exports, arms exports, weapons systems, weapons systems exports, global defense market, Big Four, NATO, COVID-19, US-China conflict, National Defense Authorization Act, global defense industry, defense spending, Redback, FA-50, K-2 MBT, K-9 howitzer, Cheonmu MRL, M-SAM

Keywords: Korea; defense; defense exports; arms exports; weapons systems; weapons systems exports; global defense market; Big Four; NATO; COVID-19; US-China conflict; National Defense Authorization Act; global defense industry; defense spending; Redback; FA-50; K-2 MBT; K-9 howitzer; Cheonmu MRL; M-SAM (search for similar items in EconPapers)
JEL-codes: F10 F13 F14 F17 F18 F23 F32 F50 F51 F52 F55 F59 H56 H57 H61 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2023-02-28
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