[Featured Stock] Sonide, Rising Expectations for Korea-Poland-UAE Global Defense Cooperation...

Sonyde is showing strength. This is interpreted as highlighting the authority to fulfill offset trade obligations granted by a UAE defense company.

As of 10:21 AM on the 16th, Sonyde is trading at 3,125 KRW, up 3.14% from the previous day.

According to the Ministry of Trade, Industry and Energy, on the 14th, Andukgeun, Director-General for Trade Negotiations, and Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, signed a joint declaration confirming the final agreement on CEPA negotiations between the two countries.

The Comprehensive Economic Partnership Agreement (CEPA) is a type of Free Trade Agreement (FTA), and this is the first time a free trade agreement has been concluded with a Middle Eastern country.

Also on the same day, Sonyde announced that its subsidiary Defense Korea and the UAE defense company Calidus will jointly participate by opening a "UAE Exclusive Pavilion" at the "Seoul International Aerospace and Defense Exhibition (ADEX) 2023."

Calidus is a 100% pure UAE defense company. The UAE Ministry of Defense received Calidus B-250 light attack aircraft in 2019, operating them equipped with domestically produced weapons and ammunition, and the Wahashi armored vehicles to be introduced to the Korean market have also been supplied to the UAE Ministry of Defense.

Recently, Calidus granted Defense Korea the authority to promote business opportunities, including marketing of defense equipment in Korea and fulfilling offset trade obligations.

Offset trade is a form of trade in which, when purchasing overseas weapons or equipment, the contracting country demands counter-benefits such as technology transfer or export of domestic weapons and parts.

At the exhibition, Calidus plans to discuss business cooperation with military attach?s stationed in Korea from various countries and key domestic defense industry officials. At the same time, invitations have been sent to Korean government agencies and embassies in Korea.

According to a Calidus official, "Under the special strategic alliance between Korea and the UAE established this year, expectations for entering the Korean market are high," and it is known that they plan not only to sell equipment but also to build maintenance factories in Korea.

Previously, Defense Korea received technical support from Poland's state-owned company PIAP (Industrial Research Institute for Automation and Measurements) and established production facilities for mine-clearing robots, explosive detectors, and AI (artificial intelligence) security robots domestically.

This content was produced with the assistance of AI translation services.