S. Korea’s Arms Exports Increases 177% in Past 5 Years
Image Credit: YONHAP News
Seoul, The Gulf Observer: South Korea’s arms exports reportedly increased by the largest among the world’s top ten arms exporters over the past five years.
According to the Export-Import Bank of Korea on Sunday, the country’s arms exports between 2017 and 2021 increased 176-point-eight percent from the previous five years.
This was the biggest increase among the world’s top ten arms exporters, including the United States, Russia, France, China and Germany.
South Korea accounted for two-point-eight percent in the global market in the 2017-2021 period, up from one percent in the previous five years. The rise made the country the eighth biggest arms exporter in the world.
Last year, South Korea’s shipments of weapons surpassed seven billion dollars to hit a record high on the back of the increase in the sale of the K-9 self-propelled howitzer and the T-50 light combat aircraft.
