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South Korea Defence and Security Report Q3 2010
Business Monitor International, July 2010, Pages: 91
Business Monitor International's South Korea Defence and Security Report provides industry professionals and strategists, corporate analysts, defence and security associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on South Korea's defence and security industry.
South Korea’s budget continues to expand in recognition of the actual threat posed by the unstable regime in North Korea and the potential long-term threat from China.
The North Korean nuclear dispute has been a key regional security feature for 20 years and was exacerbated in 2002 when the North allegedly confirmed the existence of a second secret nuclear programme to visiting US officials. Pyongyang publicly confirmed its possession of a nuclear arsenal in February 2005 and tested nuclear weapons in October 2006 and May 2009. It also tested long-range Taepodong missiles in August 1998, July 2006, and April 2009 and carries out regular testing of shorterrange missiles. Despite this, there is plenty of doubt that Pyongyang is actually able to mount its nuclear warheads on missiles.
The sinking of the South Korean corvette Cheonan on March 26, 2010, as the result of a torpedo attack by the North Korean navy, is the latest complicating factor.
South Korea’s defence industry is in good shape, after years of an increasing budget. Local media reports suggest that the government aims to reach US$3bn in defence exports by 2012. Many see that sales of the T-50 Golden Eagle supersonic trainer jet are essential to attaining that goal. The trainer jet is jointly built by Korea Aerospace Industries (KAI) and Lockheed Martin of the US. In May 2010, the Korean Times reported that the Air Force had received the last of 50 advanced T-50 Golden Eagle supersonic trainer jets from KAI. Local media reports also mention that Iraq is a likely source of sales for KAI’s T- 50s.
In April 2010, press reports indicated that the country’s border and coastal defence units will deploy longer-range, higher-resolution thermal observation devices (TOD) in 2012 to replace the current equipment that has a short-range and blind spots. These TODs are supplied by Samsung Thales. Press reports in May 2010 indicated that Doosan Heavy Industries and Construction Co had successfully delivered core equipment for a nuclear plant in Wintersburg, Arizona, completing a four-year project to supply facilities to the biggest nuclear plant in the US.
Economically, the state is also doing well, with optimistic signs of financial recovery. By December 2009, the Bank of Korea (BoK) announced GDP figures that show South Korea maintained a speedy rate of recovery in Q309. One way the government is boosting manufacturing production is to spend at least 60% of its budgeted defence expenditure in the first half of the current fiscal year, using the country’s defence industry to help recover the economy.
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