Kang Hoon-sik: "Prospects for $15 Billion Korean Defense Exports to UAE Grow"

Kang Hoon-sik, Chief of Staff to the President, stated that through the summit between President Lee Jaemyung and President Mohammed bin Zayed Al Nahyan of the United Arab Emirates (UAE), "the likelihood of our defense companies winning contracts for defense exports worth over 15 billion dollars will increase." He added, "This will serve as a bridgehead for securing markets not only in the Middle East and Africa but also in third countries such as Europe and North America."

On November 18 (local time), Kang held a briefing in Abu Dhabi, UAE, and made these remarks.

Kang Hoon-sik, Chief of Staff to the President, appointed as the Presidential Special Envoy for Strategic Economic Cooperation, is giving an interview to the press on the 13th at the departure hall of Terminal 1, Incheon International Airport before departing for Abu Dhabi, United Arab Emirates (UAE). Photo by Yonhap News

Kang explained, "In the defense and defense industry sector, we have decided to move beyond the simple export-purchase structure and, from an industrial perspective, pursue joint development, local production, and joint exports to third countries." He added, "The Korean side will support the UAE in developing its independent operational capabilities for Korean defense equipment."

Kang also mentioned that, including 15 billion dollars in the defense sector, this Korea-UAE summit achieved economic outcomes exceeding 100 billion dollars. He estimated 20 billion dollars in AI cooperation, 15 billion dollars in defense exports, and 70.4 billion dollars in K-culture. In Korean won, this amounts to approximately 150 trillion won.