Japan has committed to developing and exporting a next-generation fighter jet by 2035 in collaboration with the United Kingdom and Italy.On March 26, Japan decided to relax the “Three Principles on Transfer of Defense Equipment and Technology” during a Cabinet meeting, thereby approving the export o
The K21 Infantry Fighting Vehicle, produced by Hanwha Aerospace, is highly likely to be exported to Latvia this year.Hanwha Aerospace is currently participating in the Latvian Army’s armored vehicle replacement project with its K-21 Infantry Fighting Vehicle. The project involves about 100 units and
On March 25, the Federation of Korean Industries (FKI) presented a study titled “The Rise and Challenges of Shareholder Activism” that was commissioned to Kim Soo-yeon, a researcher at the law firm Gwangjang.According to data from research firm Diligent, the research indicates that attacks by activi
For the first time since the onset of the COVID-19 pandemic, the Export-Import Bank of Korea (Korea Eximbank) is preparing to establish its first overseas office in Poland, marking its initial foray into the country. The recent amendment to the Export-Import Bank of Korea Act has created the opportu
The Carlyle Group, a global private equity fund management firm, is stepping in as a facilitator for the overseas mergers and acquisitions (M&A) of domestically prominent defense companies with a stature that is growing worldwide.According to industry and investment banking (IB) sources on March 24,
The possibility of exporting South Korea’s indigenous helicopter, Surion, to Iraq is increasing. Following visits by high-ranking Iraqi military officials, the Iraqi Defense Minister’s visit to South Korea has heightened discussions about the introduction of the Surion. The potential first export of
A high-power (120kV, 60kW) electron-beam welding system has been developed for the first time in the country, paving the way to the domestic production of a local vacuum high-power electron-beam welding system, the key equipment for the welding of small modular reactors (SMRs).For the first time in
The relationship between South Korea and Russia is reaching a desperate situation while the two countries celebrate the 34th anniversary of diplomatic relations this year.Earlier this year, an unusual incident occurred when a South Korean missionary, who was engaged in aid and missionary activities
The police have launched a forced investigation into Korea Aerospace Industries (KAI) following the detection of an attempt by Indonesian employees dispatched to KAI to leak documents related to the Korean fighter jet KF-21.This action comes 24 days after a government joint investigation team, consi
Big South Korean companies are exiting China one after another. Business uncertainties are being fueled by fiercer competition and declining profitability in the Chinese market coupled with the U.S. government’s checks on China and policy changes by Chinese government authorities.Lotte Chemical sold
The United States targeting Chinese-made goods as part of its supply chain localization and trade war strategies is expected to affect China’s shipbuilding industry after the Chinese semiconductor industry.According to the Financial Times (FT) and other foreign media outlets, U.S. President Joe Bide
The U.S. Department of Defense is reported to have withdrawn a plan to support Intel with semiconductor subsidies of US$2.5 billion.According to Bloomberg on March 13, the Department of Defense held an informal meeting and decided to cancel the plan to support Intel with US$2.5 billion in subsidies.
HD HHI held a ceremony in honor of the start of the construction of a next-generation Aegis Destroyer 2 at its specialty yard in Ulsan, Korea, on March 12.At the ceremony, participants wished for the successful construction of the ship by placing the first block on the dock. The ceremony indicates t
NPCore, a cybersecurity company specializing in network and endpoint security, recently conducted a cybersecurity workshop in Kuala Lumpur, Malaysia, in collaboration with its local partner, TechLab. The event, held on February 29th, was particularly timely, given the recent spate of cyber threats i
The domestic defense industry has gained new momentum through the revision of the Export-Import Bank of Korea (Korea Eximbank) Act. It is expected to accelerate towards achieving the goal of US$20 billion in defense exports this year.On Feb. 29, a bill to amend the Korea Eximbank Act, which increase
Hanwha Ocean submitted a complaint to the National Police Agency’s National Investigation Division on March 4 to investigate alleged systematic leakage of military secrets related to the Next Generation Korean Destroyer (KDDX) Project by HD Hyundai Heavy Industries (HHI).“It is an objective fact tha
Hanwha Aerospace announced on Feb. 29 that it has submitted a bid proposal on the US Army’s Small Multipurpose Equipment Transport (S–MET) Increment II program.An Anduril-led S-MET Project consortium also includes Hanwha Aerospace and Forterra, an unmanned vehicle developer.Anduril is a defense tech
The government has come up with a detailed blueprint at the inter-ministerial level, encompassing export targets for key items such as semiconductors, automobiles, and plants, to achieve this year’s export goal of US$700 billion. It includes the largest-ever support measures to accelerate progress,
HD Hyundai Heavy Industries (HHI), accused of leaking military secrets, will not receive sanctions, so it will be able to continue to bid in winning maritime defense projects. As a result, the company will be able to take part in a tender for the construction of the Korea Destroyer KDDX, which will
Doosan Enerbility is expanding its metal additive manufacturing (AM) business, which has been growing in the power generation and defense sectors, into the shipbuilding sector.Metal additive manufacturing is a technology that manufactures metal material parts by stacking metal powder layer by layer,