Defense Small and Venture Business Association: "Offset Trade Must Be Supplemented to Protect Defense SMEs"

Global Defense Industry Competitiveness Enhancement Grand Forum Held

Members of the National Assembly’s Defense Committee and defense industry stakeholders gathered to discuss the supplementation of offset trade in defense exports and government programs supporting small and medium-sized venture enterprises.

The Defense Small and Medium Venture Business Association held a "Grand Debate on Strengthening the Global Defense Competitiveness of Advanced Materials, Parts, and Equipment and IT Small and Medium Venture Businesses" on the 24th at the auditorium on the basement first floor of the National Assembly Library. Photo by Defense Small and Medium Venture Business Association

The Defense Small and Medium Venture Enterprises Association (President Won Jun-hee) announced on the 25th that it held the “Grand Debate on Strengthening the Global Defense Competitiveness of Advanced Materials, Parts, Equipment, and IT Small and Medium Venture Enterprises” at the auditorium on the basement first floor of the National Assembly Library the previous day.

At the debate, legislative officials including Democratic Party members Ahn Kyu-baek and Bu Seung-chan, People Power Party member Yoo Yong-won, and independent member Kim Jong-min, as well as defense industry officials such as Defense Acquisition Program Administration (DAPA) Commissioner Seok Jong-geon, attended to discuss the realities and challenges faced by the defense small and medium venture industry.

Won Jun-hee, president of the Defense Small and Medium Venture Enterprises Association, stated, “Through this debate, we aim to initiate multifaceted support so that defense small and medium venture enterprises can gain competitiveness both domestically and internationally,” adding, “In particular, through a paradigm shift in offset trade, our association will take responsibility and play a central role in growing into a nation boasting the world’s strongest defense capabilities.”

Democratic Party member Ahn Kyu-baek emphasized in his welcoming remarks, “We will promptly advance all related laws and systems so that export offset trade is not merely a subordinate guideline of DAPA but a foundation for all small and medium venture enterprises to enter the global market through K-Defense.”

During the keynote presentations and discussions, participants included Kim Tae-min, officer at DAPA; Min Sung-jin, executive director at Samjong Accounting Corporation; Yoon Woong-jung, executive director of the Defense Small and Medium Venture Enterprises Association; Lee Dae-jin, senior research fellow at the Agency for Defense Development; and Kim In-jung, Ph.D. at the National Security Technology Research Institute.

They presented on topics such as ▲support measures to strengthen the global competitiveness of defense small and medium venture enterprises ▲the EU’s defense industry strategy and response measures for small businesses ▲ways to foster defense small and medium venture enterprises through mandatory offset trade, and conducted a comprehensive discussion on ▲legal and institutional innovations for win-win cooperation and co-growth between large and small enterprises.

At the event, panelists shared the view that “small and medium venture enterprises should not become victims of offset trade but rather turn it into an opportunity to enter the global market,” and “To this end, a legal basis for export offset trade should be promptly established to create a foothold for defense small enterprises to enter the global market.”

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