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South Korea Defence and Security Report Q1 2015

  • ID: 3049889
  • December 2014
  • Region: South Korea
  • 87 pages
  • Business Monitor International
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BMI View: South Korea's defence and security outlook is dominated by the unpredictable and tense relationship with Pyongyang. Uncertainty drives defence spending increases and technological development, with missile-defence and jet fighters the pre-eminent concerns for Seoul at present. Domestic defence companies have generally stagnated in 2013 and 2014, with a handful of key civilian orders providing a much-needed boon to their finances. Longer-term, we see emerging markets in the Middle East and Sub-Saharan Africa as key areas for South Korean defence export growth.

A significant portion of defence expenditure funds are expected to be used to upgrade South Korea's missile defence system. The Korea Air Missiles Defence system (KAMD), or so called 'kill chain project' will see Seoul move from its German-made PAC-2 missile system to the PAC-3 system produced by American contractor Lockheed Martin. This project is expected to cost the Ministry of National Defence (MND)
approximately USD26.4bn by 2019.

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BMI Industry View 7

SWOT 9

South Korea Security SWOT 9

South Korea Defence SWOT 12

Political 14

Economic 15

Business Environment 16

Industry Forecast 17

Defence Expenditure 17
Table: Defence Expenditure (South Korea 2011-2018) 19

Armed Forces 20
Table: Armed Forces Personnel (South Korea 2004-2011) 20
Table: Manpower Available For Military Services (South Korea 2011-2018) 20

Macroeconomic Forecast 22

Economic Analysis 22

Domestic Drivers Remain Weak 23

Government Stimulus To Provide Support In 2015 24

Reprieve From Exports Not Guaranteed 25
Table: Economic Activity (South Korea 2009-2018) 25

Industry Risk Reward Ratings 26

Asia Security Risk Index 26
Table: Asia Security Risk Index 26
Table: Asia State Vulnerability To Terrorism Index 27

South Korea Security Risk Index 28

Market Overview 30

South Korea Defence Market Overview 30

Recent Developments 30

Armed Forces 31

Domestic Industries 32
Table: Key Companies In South Korea's Defence Industry 34

Weapons Of Mass Destruction 34

Imports 35

Exports 37

South Korea Security Overview 43

Domestic Threats 43

Regional Threats And Relations 44

International Threats And Relations 50

Political Risk Analysis 52

Company Profile 59

Daewoo Shipbuilding & Marine Engineering (DSME) 59

Doosan Heavy Industries & Construction 61

Korea Aerospace Industries (KAI) 63

Samsung Thales 65

Regional Overview 66

North East Asia Security Overview 66

The Geopolitical Importance Of North East Asia 66

Flashpoints And Fault Lines In North East Asia 67

The Evolution Of North East Asia 75

Global Industry Overview 78

Political Risk Analysis 78

Methodology 84

Industry Forecast Methodology 84

Sector-Specific Methodology 85

Sources 86

Security Risk Index Methodology 86
Table: Indicators And Weighting 87

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Daewoo Shipbuilding & Marine Engineering (DSME)
Doosan Heavy Industries & Construction
Korea Aerospace Industries (KAI)
Samsung Thales

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Note: Product cover images may vary from those shown

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Our Clients

  • CAE Inc.
  • BAE Systems Plc.
  • Sikorsky Aircraft Corporation
  • Bell Helicopter Textron Inc.
  • Thales Group
  • Lockheed Martin Corporation