Korean Information Service, President Roh Moo-hyun said Tuesday (Oct. 16) that Korea will be able to independently develop advanced weapon systems and rank as the world's 10th-largest arms exporter by 2020.
“The government will continue to expand financial aid and investment in core aerospace and defense industry technologies, and strengthen joint export marketing activities in these industrial fields,” Roh said in a speech at the opening ceremony of the Seoul Air Show 2007.
The air show, formally named the Korean Aerospace and Defense Exhibition 2007, began its six-day run at Seoul Airport in Seongnam, south of Seoul.
“I'm convinced of the success of Korea's aerospace and defense industries. We have built the world's most highly competitive manufacturing sector. Considering that this excellent science and technology manpower and state-of-the-art information technology infrastructure will be a strong locomotive, we have great potential and confidence,” said Roh.
The president noted that the country's defense research and development budget would grow nearly 80 percent from 2002 to 1.2 trillion won ($1.3 billion) this year. He also said the nation's annual defense exports would exceed $1 billion this year, a steep rise from $140 million in 2002.
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