South Korea achieves new record in defence exports

South Korean defence industries exported materiel worth more than USD1 billion in 2008, a rise of nearly 18 per cent over 2007, according to a 29 December statement by the country's Defence Acquisition Programme Administration (DAPA).

"Despite stagnation in world exports, sales of more than USD1 billion have been achieved in defence exports - a new record," said DAPA.

DAPA said that its key markets continue to be the Middle East, Africa and the Americas. It added that, as a result of "aggressive marketing", exports to Latin America "have increased significantly" in 2008.

South Korean defence companies sold equipment to 58 countries in 2008, added DAPA, a rise over the 46 that purchased items the previous year. "In the past, mainly ammunitions were exported but the trend is expected to increase sales of high-technology products," it said.

Image: Korea Aerospace Industries is supplying 36 KT-1 basic trainers to Turkey. (Jane's/Patrick Allen) 137 of 385 words