Korean Information Service, Korea aims to become the world's 10th-largest armaments exporter by 2022, according to a mid and long term plan released by Korea's defense procurement agency on Monday (Sept. 17).
The Defense Acquisition Program Administration (DAPA) said it plans to increase the nation's weapon exports to $1 billion by 2011 and $2 billion by 2022. Korea's arms exports totaled $246 million in 2003, $419 million in 2004 and $262 million in 2005.
The DAPA also revealed plans to weaponize 10 core technologies and domestically build 10 major armaments, taking full advantage of research resources of the state-run Agency for Defense Development and private research institutes.
In order to accomplish these targets, the government will keep the annual budget growth for defense-related research and development activities at about 20 percent until 2010. It will then raise the ratio of defense research and development in the entire defense budget from the current 4.7 percent to 10 percent by 2020.
“The 10 core technologies and 10 major armaments will be designated by the end of the year in consultation with the Joint Chiefs of Staff and the Ministry of Defense,” an official at the DAPA said.
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