On Tuesday, South Korea and Romania committed to strengthening defence sector cooperation to secure Seoul’s standing as the fourth-largest arms exporter globally.
During their summit, President Yoon Suk Yeol and his Romanian colleague Klaus Iohannis talked about cooperative military production. Furthermore, Polish Deputy Defence Minister Pawel Bejda and South Korea’s Shin Won-sik met, intending to conclude a major contract with Hanwha Aerospace for more weaponry.
South Korea has landed significant defence contracts in Europe, the Middle East, and Asia in the wake of Russia’s invasion of Ukraine. Remarkably, Romania is apparently in the process of signing its first defence contract with South Korea, worth one trillion won, with Hanwha Aerospace for the supply of K9 howitzers.
Poland has previously committed to a $22 billion arms agreement with South Korea, which includes the purchase of 70 Chunmoo rocket artillery units costing $1.6 billion, to strengthen its defence capabilities. The parliament of South Korea voted to loosen export financing regulations, marking the beginning of efforts to increase the funding options available for such transactions.
These changes highlight the defence industry’s expanding worldwide reach and the strategic alliances that South Korea has formed within the framework of the international weapons trade.
