Скачать или смотреть South Korea plans to spend US$1.5 billion to nurture cutting-edge military tech market

국방부-산자부 민군 기술협력, ’27년까지 1.5조원 이상 투자

As South Korea aims to turn its defense sector into a key export industry, the ministries of defense and trade have joined hands as part of concentrated efforts to encourage and support innovation in cutting-edge technologies.
Our defense correspondent Oh Soo-young has more.

Seoul plans to spend over 1.5 billion U.S. dollars to become one of the world’s four leading defense exporters, investing in cutting-edge artificial intelligence, drones, space and future technologies.
South Korea’s Ministry of Defense on Tuesday held its first joint committee session with the Ministry of Trade, Industry and Energy, to discuss various plans to bolster the nation’s innovative and commercial capacity and become a defense tech powerhouse.
The defense ministry says the joint committee meeting was held to follow up on the Defense Export Strategy Meeting’ held last November by President Yoon Suk Yeol.
In doing so, the ministry set out to strengthen pan-governmental efforts to better coordinate support for industry players, and provide post-sales support for client countries.
It also aims to increase the defense industry’s competitiveness by fostering a vibrant R&D landscape, and bolstering supply chain networks.
In order to develop and commercialise world-class defense technologies, the finance ministry introduced its third draft plan to strengthen links between the civilian and military sectors, with an investment of 1.5 trillion won, or over a billion U.S. dollars, by 2027.
It will also promote more high-risk, high-return investments for R&D on 16 core areas that include drones, AI, space, virtual reality and robotics.
To increase self-sufficiency in producing such technologies, the government also plans to inject 157 million dollars into developing 40 core materials and parts, as well as nurturing talent pools in sectors like aviation and machinery.
In particular, it aims to provide over 78 million dollars annually in funding for small-and-medium businesses.
The plan is expected to be confirmed at this month’s National Science and Technology Advisory Council meeting.
Loan schemes and funding options to encourage innovation and deals with client countries were also addressed under a financial support plan introduced in December.
Seoul’s defense exports hit a record high of 17-point-three billion dollars last year.
Oh Soo-young, Arirang News.


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2023-02-14, 21:00 (KST)