Global conflicts intensify, leading to a significant increase in the number of South Korean defense startups

Golden Ten Data, March 23 — According to foreign media reports, South Korea's defense industry has long been one of the country's most closed industrial ecosystems. Now, due to the intensification of global conflicts, some startups dedicated to developing experimental weapons for modern warfare are emerging. Domestic manufacturers in South Korea are able to produce weapons that meet NATO standards at lower costs and in shorter timeframes, giving them an advantage over many established Western competitors. This advantage allows them to seize opportunities arising from the growing global demand, including selling tanks to Poland, an important ally of Ukraine, and missile interceptors to the United Arab Emirates. Meanwhile, the conflict situation in Iran is also escalating. This has greatly promoted the development of the industry, which is mainly dominated by large enterprises such as Hanwha Aerospace and Korea Aerospace Industries. Today, the industry has grown into a $30 billions sector. According to data from the Stockholm International Peace Research Institute, the country has become the world's ninth largest arms exporter.