New Market Research Report: South Korea Defence & Security Report 2015


New Defense market report from Business Monitor International: "South Korea Defence & Security Report 2015"


[USPRwire, Tue Sep 01 2015] South Korea's defence and security outlook is dominated by the unpredictable and tense relationship with Pyongyang. Uncertainty drives defence spending increases and technological development, with missile-defence and jet fighters the pre-eminent concerns for Seoul at present. Domestic defence companies have generally stagnated in 2013 and 2014, with a handful of key civilian orders providing a much-needed boon to their finances. Longer-term, we see emerging markets in the Middle East and Sub-Saharan Africa as key areas for South Korean defence export growth.

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

Full Report Details at
- http://www.fastmr.com/prod/1020536_south_korea_defence_security.aspx?afid=302

In another windfall for Lockheed Martin, the MND has agreed a deal for 40 F-35 Lightning fighter jets. The deal was signed in early 2014 and is worth USD6.8bn; procurement is set to begin in 2018. The deal will be part-funded by Indonesian engagement for technological development, and includes direct technology transfers from Lockheed to either Korean Aerospace Industries (KAI) or the aerospace division of national airline Korean Air.

In a revised arrangement with the US, Seoul will pay USD866mn in 2014 to maintain an enhanced US military presence in South Korea, with US forces in Korea boosted to 29,300 personnel with the addition of 800 troops in February 2014. The cost has risen by 5.4% from 2013 and has been agreed for at least five years. This is a key part of President Obama's 'pivot' strategy and bolsters Seoul's security against both North Korea and a more assertive China.

Beijing's announcement in Q413 of an Air Defence Identification Zone (ADIZ)...

The South Korea Defence & Security Report features BMI Research's independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.

BMI's South Korea Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Korean defence and security industry.

Key Benefits

* Benchmark BMI's independent defence and security industry forecasts on South Korea to test other views - a key input for successful budgetary and strategic business planning in the Korean defence and security market.

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