Arab News, Wednesday, Feb 07, 2024 | Rajab 26, 1445
South Korea seeks to deepen defense ties with Saudi Arabia
SEOUL:
Saudi Arabia and South Korea signed a preliminary agreement to expand
defense cooperation, Seoul’s arms procurement agency has said as the East
Asian country looks to broaden its arms export market.
Saudi Arabia’s Ministry of Defense and South Korea’s Defense Acquisition
Program Administration signed the memorandum of understanding on Sunday on
the sidelines of the World Defense Show in Riyadh.
The agreement sets the formation of a joint committee to develop cooperation
in the defense industry and technology and to conduct weapons system
research and production, DAPA said in a statement.
“This MoU will serve as a cornerstone to move the bilateral relationship
forward to a future-oriented strategic partnership,” DAPA Director Eom Dong-hwan
said.
“I hope this agreement will contribute to developing the bilateral
relationship further, providing more opportunities … for defense
cooperation.”
South Korea is aiming to become the world’s fourth-largest arms exporter by
2027 and has set eyes on the “diversification of defense export markets,”
Defense Minister Shin Won-sik, who witnessed the MoU signing alongside his
Saudi counterpart Khalid bin Salman, told reporters at the Riyadh
exhibition.
On Tuesday, the South Korean Defense Ministry said that defense firm LIG
Nex1 has secured a $3.2 billion deal to export a mid-range surface-to-air
missile defense system to the Kingdom.
“South Korea will develop a long-term partnership with Saudi Arabia not only
in arms sales but also in terms of broader defense cooperation to make a
win-win situation,” Shin said.
Shin also held talks with the Minister of Saudi National Guard Abdullah bin
Bandar during his time in Riyadh, where they discussed ways to also
strengthen bilateral military cooperation.
In the wake of Russia’s war in Ukraine, South Korea has emerged as a leading
defense supplier in the world, as it became one of the few countries able to
deliver weapons systems quickly and efficiently following decades of
preparation under the threat of conflict with North Korea.
The country’s arms exports jumped to $17 billion in 2022, far surpassing a
record of $7.25 billion in the previous year. The country was the
ninth-largest arms seller in the world that same year, rising from its 31st
place in 2000, according to the Stockholm International Peace Research
Institute.
“Russia’s invasion of Ukraine has certainly driven demand for South Korean
weapons systems with high levels of technologies and better price
competitiveness,” military analyst Ahn Seung-beom, the publisher of the
monthly Defense Times magazine, told Arab News.
“Still, South Korea is facing stiff competition from other global arms
exporters, so South Korea is striving to pioneer new defense markets to
further expand its global footprints,” he said. “In this regard, Saudi
Arabia would be the best potential arms partner due to the Kingdom’s high
demands for collaboration in the defense industry.”
South Korea’s leniency in technology transfer and cooperative measures makes
it an ideal partner for countries like Saudi Arabia, as the Kingdom seeks
“to build up self-reliant defense capabilities,” instead of purchasing
off-the-shelf arms products, Ahn added.
South Korean arms companies, such as Hanwha, Poongsan and LIG Nex1,
concluded deals with Saudi Arabia worth around $989 million collectively,
which include multiple rocket launchers, ammunition and electro-optical
systems, according to a 2023 report by the London-based International
Institute for Strategic Studies.
“Arab Gulf states are looking to diversify their sources of defense
procurement and partnerships beyond their traditional Western suppliers …
Seoul can offer increasingly advanced equipment alternatives, often at
competitive prices and with shorter lead times,” the report said.
At the Riyadh defense show, which ends on Feb. 8, major South Korean arms
manufacturers, including Hanwha Aerospace, Hyundai Rotem and LIG Nex1, are
showcasing a variety of weapons systems covering the domains of air, land
and sea, some customized to suit the environment in the Middle East and the
region’s defense interests.
“Hanwha aims to collaborate with Saudi Arabia to contribute to the growth
and modernization of the Kingdom’s defense industry,” a Hanwha spokesperson
told Arab News. “Hanwha takes pride in our ongoing commitment to delivering
deterrence solutions to key customers in the region.”