<Korea Exports Record Amount of Defense Products > |
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South Korea exported a record amount of defense products last year.
The Defense Acquisition Program Administration said Tuesday that the nation exported one-point-one billion U.S. dollars worth of defense materials. It was the highest figure to be reached since the nation began exporting such items in 1975.
The defense agency said that although the figure falls short of the initial target of one-point-two billion dollars, the achievement is noteworthy given that it was reached amid the global financial crisis and as major export contracts were delayed to early this year.
The agency added that the number of export destinations also witnessed an increase, citing that the nation exported defense products to 74 countries last year compared to 46 countries in 2007 and 59 in 2008.
The agency also noted that the number of firms that export such materials also rose to 104 last year from 54 in 2007 and 80 in 2008.
An official at the agency said the nation aims to export this year one-and-a-half billion dollars worth of defense products, including T-50 trainer aircraft and K-9 self-propelled howitzers.
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(2009-08-05)