Economic impact of defense projects by state agency estimated at 69.7b won
The amount was calculated based on the value of 303 weapons systems, including 146 deployed by the military, developed by the state-run institution since its establishment in 1970, according to the report published on the occasion of the ADD's 55th anniversary.
Among the weapons systems developed by the ADD were the Cheongung-II medium-range surface-to-air missile system and the K9 self-propelled howitzer, which were the two most-exported products in terms of amount.
Weapons systems researched and developed by the ADD accounted for 43 percent of South Korea's overseas defense exports, which totaled around 60 trillion won from 2008-2025, according to the report.
South Korea's defense technologies were assessed to be the world's eighth most advanced as of last year, according to a separate government report. (Yonhap)
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Korea Herald
7 hours ago
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Economic impact of defense projects by state agency estimated at 69.7b won
The economic impact of weapons systems developed by the Agency for Defense Development since its establishment was estimated at 69.7 billion won ($50.3 million), a report showed Monday. The amount was calculated based on the value of 303 weapons systems, including 146 deployed by the military, developed by the state-run institution since its establishment in 1970, according to the report published on the occasion of the ADD's 55th anniversary. Among the weapons systems developed by the ADD were the Cheongung-II medium-range surface-to-air missile system and the K9 self-propelled howitzer, which were the two most-exported products in terms of amount. Weapons systems researched and developed by the ADD accounted for 43 percent of South Korea's overseas defense exports, which totaled around 60 trillion won from 2008-2025, according to the report. South Korea's defense technologies were assessed to be the world's eighth most advanced as of last year, according to a separate government report. (Yonhap)
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Lee calls for phased steps to implement existing inter-Korean pacts to restore ties with N. Korea
President Lee Jae Myung on Monday called for taking steps where necessary to implement existing inter-Korean agreements, days after he reaffirmed his pledge to restore ties and trust with North Korea, including reviving the 2018 military tension reduction pact. "True security lies in safeguarding peace. What we need now is the courage to steadily take steps to ease tensions while firmly maintaining an ironclad defense posture," Lee said during a Cabinet meeting. "I ask the relevant ministries to prepare for a phased implementation of existing inter-Korean agreements, starting with those where possible," Lee said. His remarks came after he reinforced in his Liberation Day address that his government will take measures to reduce tensions and restore trust with Pyongyang. Lee said the South under his leadership will respect the North's current system and that it will not pursue any form of unification by absorption. He also said that Seoul will take "proactive, gradual steps" to restore the Sept. 19 military agreement, signed between the two sides in 2018 to reduce border tensions. (Yonhap)
