South Korea’s arms exports in 2023 decreased from a record high last year, but the number of importers rose thanks to robust demand for advanced Korean weapons, the defense ministry said Wednesday.
South Korean firms signed weapons deals worth nearly $14 billion this year, a defense ministry official said, without providing a specific amount as the official data is not yet available.
This year’s estimated figure was down from a record high of $17.3 billion last year, which was helped by mega deals in Poland, which accounted for 72 percent of the total.
Last year, Poland signed $13 billion worth of deals with Korean firms to buy K-2 tanks, K-9 self-propelled howitzers, FA-50 light attack aircraft and K-239 Chunmoo multiple rocket launchers to bolster its defenses amid the Russia-Ukraine war.