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Industry

Seoul passes law to support ‘export-oriented defence industry’

12 January 2020
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South Korea's National Assembly has approved legislation to strengthen the global competitiveness of the national defence industry. The 'Act on the Development and Support of Defense Industry' replaces the Defense Business Act that was enacted in 2006 alongside the establishment of the Defense Acquisition Program Administration (DAPA), which was launched in January of the same year.

DAPA said on 10 January that the new legislation is consistent with a government aim to position the national defence industry as a driver of South Korea's economy. The principal objective of the new law, which is also known as the 'Defense Industry Development Act', is to support the sector's transition into what DAPA has called an "export-oriented industry sector".

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