South Korea’s Defence Industry Finds Opportunity In Europe’s Insecurity

Rising arms exports and strategic diplomacy could cement South Korea’s role in Europe's defence sector

25 October 2024

Following the Russian invasion of Ukraine, South Korea has rapidly emerged as one of the top arms exporters to European countries. If it navigates Europe’s complex political landscape and maintains momentum in defence contracts, it has a unique opportunity to strengthen European ties and bolster its economy.

In the wake of the Russian invasion of Ukraine, South Korea quickly – and for some, surprisingly – emerged as one of the top providers of arms and ammunition to the European Union.

In 2022, European countries signed a record-breaking  $8.4 billion worth of defence contracts with South Korea. By 2023, South Korea indirectly supplied more artillery shells to Ukraine than all European countries combined. This surge has positioned South Korea as the world’s tenth-largest arms exporter, and third-largest in Asia, after China and Israel.

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Martin Šebeňa

Martin Šebeňa is the chief economist at the Central European Institute of Asian Studies (CEIAS).

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