Industry

  • Defense cost-sharing talks cut short as U.S. walks out: Yonhap
    Defense cost-sharing talks cut short as U.S. walks out: Yonhap SEOUL -- Defense cost-sharing talks between South Korea and the United States were abruptly cut short Tuesday as the U.S. negotiators walked out of the meeting and accused Seoul of making proposals falling short of "fair and equitable burden sharing." The unexpected ending underlined wide differences between the two sides after Washington's reported demand for a fivefold increase in Seoul's sharing of the cost of the upkeep of about 28,500 American troops stat November 19, 2019
  • S. Korea agrees to build renewable energy power generation facilities for Philippine defense ministry
    S. Korea agrees to build renewable energy power generation facilities for Philippine defense ministry This file image shows an energy storage system (ESS) facility. SEOUL -- South Korean companies will participate in a project to help ease power shortages by building renewable energy power generation facilities with a total capacity of 100MW at idle sites in the complex of the Philippines' defense ministry. The Ministry of Trade, Industry and Energy said it signed an agreement in Seoul on Friday to implement cooperation between South Korea and the Philippines on October 25, 2019
  • Hanwha signs contract to upgrade identification of friend or foe equipment for naval ships
    Hanwha signs contract to upgrade identification of friend or foe equipment for naval ships SEOUL -- Hanwha Systems, a defense contractor, signed a military contract to upgrade an identification system which is designed to prevent friendly fire by helping radar operators and missile crews tell the difference between friendly and potentially hostile aircraft and warships. The deal worth 189 billion won ($163 million) requires Hanwha to upgrade identification of friend or foe (IFF) equipment for naval ships from Mode 4 to 5, according to the Defense Acquisition Prog April 29, 2019
  • Indonesia signs $1.02 bln deal to buy three more 1,400-ton S. Korean subs
    Indonesia signs $1.02 bln deal to buy three more 1,400-ton S. Korean subs A file picture shows a submarine built by Daewoo Shipbuilding & Marine Engineering. SEOUL -- Indonesia agreed to buy three more 1,400-ton submarines from South Korea in a $1.02 billion deal. It was the second submarine contract between the two countries which have maintained close military ties with Indonesian engineers involved in defense projects in South Korea. Daewoo Shipbuilding & Marine Engineering (DSME), the main builder of South Korean submarines, signed a April 12, 2019
  • S. Korea and India agree to step up cooperation in military and space sectors
    S. Korea and India agree to step up cooperation in military and space sectors SEOUL -- South Korean and Indian leaders agreed to push for joint lunar exploration and upgrade their strategic partnership in defense and space industries. South Korea, a newcomer in the space industry, has tried to find a new partner for technical cooperation. The agreement came at a summit between South Korean President Moon Jae-in and Indian Prime Minister Narendra Modi in Seoul on Friday. The two leaders agreed to strengthen strategic exchanges February 22, 2019
  • Trump says S. Korea should pay U.S. more for defense: Yonhap
    Trump says S. Korea should pay U.S. more for defense: Yonhap WASHINGTON -- U.S. President Donald Trump called for a further increase in South Korea's share of the cost of stationing American troops on the peninsula. Trump's remarks came only days after the allies signed a preliminary agreement renewing their cost-sharing deal for the 28,500-strong U.S. Forces Korea. "As you know, South Korea -- we defend them and lose a tremendous amount of money," the U.S. president said at a Cabinet meeting, repeating a signa February 13, 2019
  • S. Korean aircraft maker KAI wins military contract in Indonesia
    S. Korean aircraft maker KAI wins military contract in Indonesia SEOUL -- South Korea's sole aircraft maker, Korea Aerospace Industries (KAI), won a defense contract in Indonesia to ship three turboprop basic trainers and install radar and machine guns in KAI's supersonic trainers which are in service in the Southeast Asian country. KAI said Thursday that the deal worth about 100 billion won ($89.5 million) was signed on the sidelines of the Indo Defence trade fair for military technology in Jakarta. Indone November 8, 2018
  • Decision on joint exercises to be made before Dec. 1: Yonhap
    Decision on joint exercises to be made before Dec. 1: Yonhap South Korean Defense Minister Jeong Kyeong-doo inspects an American honor guard before attending an annual defense conference. WASHINGTON -- South Korean Defense Minister Jeong Kyeong-doo said that Seoul and Washington will make a decision on plans for next year's major exercises before December 1 after a working-level review. Jeong made the remarks after the 50th annual Security Consultative Meeting (SCM) with his U.S. counterpart, James Mattis, where the tw November 1, 2018
  • Hanwha to unveil AS21 Redback infantry fighting vehicle in Australia
    Hanwha to unveil AS21 Redback infantry fighting vehicle in Australia Hanwha's K21 infantry fightint vehicle SEOUL -- Hanwha Defense Systems, a key defense contractor in South Korea, will showcase the prototype of its AS21 Redback infantry fighting vehicle for the first time at this week's defense fair in Australia. The AS21 Redback is the advanced version of Hanwha's K21 and is designed for the Land 400 Phase 3 campaign to replace Australia's M113AS4 armored personnel carrier. Hanwha said in a statement September 4, 2018
  • S. Korea envisions gradual troop reduction and greater fire power
    S. Korea envisions gradual troop reduction and greater fire power SEOUL -- South Korea's defense ministry proposed a gradual troop reduction to cope with rapid demographic changes caused by a low birthrate, suggesting the military would hire more civilian staff for noncombat military posts and increase the number of female officers. By 2022, the number of active-duty troops will be cut down from 618,000 to 500,000, the ministry said in its reform blueprint presented to President Moon Jae-in at a meeting of military commanders. Accordingly, t July 27, 2018