More than 50 percent of defense spending in South Korea filters domestically, according to a May report from Avascent titled “Dynamics of International Military Modernization 2016.”
Defense News recently interviewed Kim Young Hoo, executive vice chairman of Korea Defense Industry Association (KDIA), leading them to report that the South Korean defense industry wants to expand its collaboration with the US to focus less on buying and more on co-development. For the report, they used Avascent’s recent white paper, Dynamics of International Military Modernization 2016, for context to highlight that South Korea’s global push to grow domestic defense industries reflects a more expansive trend that could have an impact on the Western defense export market over the next decade.
To read the full article, click here: Korea Defense Industry Association to US: ‘We Have New Needs to Develop Together’
Avascent’s white paper mentioned by Defense News, Dynamics of International Military Modernization 2016, is available here.