South Korea Defence and Security Report - Q4 2014

Business Monitor International
August 20, 2014
90 Pages - SKU: BMI5315714
Countries covered: South Korea

South Korea Defence and Security Report - Q4 2014

BMI View: Continued tension with Pyongyang dominates the outlook for South Korean defence andsecurity. The uncertainty caused by the bellicose regime to the north has driven substantial defencespending increases and will continue to keep Seoul on high alert. In addition to this headline volatility, weare increasingly interested in defence exports as growing South Korean expertise creates new opportunitiesto export globally. The Middle East and Sub-Saharan Africa will be key areas for this growth.

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



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