Industry

  • Lotte to transfer its golf course as deployment site for THAAD
    Lotte to transfer its golf course as deployment site for THAAD South Korea's Lotte Group has accepted a property swap to transfer its golf course as the new site for the deployment of an advanced US missile defense system, the defense ministry said Wednesday. The Lotte Skyhill Country Club in a remote rural area will be handed over to the defense ministry while the country's fifth largest conglomerate will receive military-owned land in Namyangju at the northeastern suburb of Seoul, the ministry said. November 16, 2016
  • Opposition threatens to impeach defense chief over military pact with Japan
    Opposition threatens to impeach defense chief over military pact with Japan A file picture on Defense Minister Han Min-koo speaking in parliament. Opposition parties vowed Monday to push for the resignation and impeachment of Defense Minister Han Min-koo if he signs an information-sharing military accord between South Korean and Japan. The opposition warning came ahead of a ceremony in Tokyo to sign the General Security of Military Information Agreement between Japan and South Korea. The two nations initiated the pact in 2012, but Seoul scrapped November 14, 2016
  • S. Korea, US to consider deploying US strategic assets: Yonhap
    S. Korea, US to consider deploying US strategic assets: Yonhap South Korea and the United States will consider deploying US strategic military assets to the South permanently on a rotational basis to strengthen the US "extended deterrence" protection of the Asian ally from nuclear and missile threats from North Korea, Seoul's defense chief said Thursday. South Korean Defense Minister Han Min-koo made the remark after talks with US Defense Secretary Ash Carter. Deployment of strategic assets, such as B-2 stealth bombers, would October 21, 2016
  • South Korea military probes suspected hacking of warship builder
    South Korea military probes suspected hacking of warship builder ROKS Dokdo South Korea's military opened an investigation Tuesday to see if North Korea was behind a suspected cyber attack on Hanjin Heavy Industries & Construction, a major defense firm involved in the constructions of warships. The South's defense ministry said its intelligence unit was conducting a security check into Hanjin Heavy after discovering an attempt to hack into its computer network. The company has built frigates, amphibious as May 10, 2016
  • India selects South Korean firm for $5 bln military contract
    India selects South Korean firm for $5 bln military contract South Korea's defense firm Kangnam Corp has emerged as a sole bidder for India's five billion US dollar project to jointly build 12 mine sweeping vessels, Defense News, a US military news outlet, reported. Defense News said Kangnam was the sole respondent to a global expression of interest (EOI) floated by India's state-owned Goa Shipyard Limited (GSL). It quoted a GSL source as saying the joint effort would cost India's navy $5.0 billion. GSL h April 1, 2016
  • South Korea to upgrade its Patriot air-defense batteries
    South Korea to upgrade its Patriot air-defense batteries The Pentagon said on Monday Lockheed Martin Corp has won a contract to build PAC-3 missiles for the U.S. Army, South Korea, Qatar and Saudi Arabia for use in Raytheon Co's Patriot missile defense system. The contract worth $1.09 billion runs through June 30, 2019, the department said in its daily digest of major arms contracts. The PAC-3 Missile is a high-velocity interceptor that defends against incoming threats including tactical ballistic missiles, cru December 15, 2015