Not An Obligation. An Opportunity for Business Growth.
Defense spending for the Republic of Korea is trending upwards as it continues efforts to deter North Korean aggression and build out its maritime and air capabilities. A record amount of over $36 billion is to be spent on defense for 2017, opening the door to business opportunities and growth in the Korean Market.
As the Korean Industrial Partner of choice for some of the largest defense & aerospace OEMs, Huneed (SME) provides our partners maximum flexibility and speed of communication in-country and on the ground. With a proven track record of success, our innovative implementation of offset industrial cooperation enables partners to win contracts and deliver on offset requirements in Korea.
Republic of Korea is Top 10
Biggest Military Spenders
2016 ROK Arms Imports was $1.33 Billion USD
(SIPRI trend indicator values)
NATIONAL DEFENSE MAGAZINE
The Ministry of National Defense (MND) stated 03 July 2013 that the national defense budget needed to be increased 7.3% every year until 2017
S. DIRECTOR- CNAS
In their five-year defense projection this past year, South Korea added more than $200 billion to the defense budget for 2016 to 2020
The National Assembly approved a 400.5 trillion won government spending plan for next year on 3 DECEMBER 2016. It is the first time that Seoul's defense budget has exceeded 40 trillion won, reflecting growing security threats from North Korea.