South Korea jet firms flying high
Investment in armaments help nation's defence industry bid for multi-billion dollar contracts around the globe.
Last Modified: 18 May 2012 02:19

South Korea's defence industry has been steadily taking off over the past six years, in part spurred by concerns over reported advances made by its neighbour, North Korea.

The country's Korea Aerospace Industries is hoping to land a deal to replace the fleet of training aircraft used by the United States - a contract potentially worth $8bn.

Having already secured contracts with the Indonesian military, the company is now turning its eye to nations that use fighter jets currently made in the US.

The country's jet-fuelled defence spending - reported as high as $30bn a year, or ten per cent of total government spending - is necessary to address "threats" from North Korea, say officials.

Al Jazeera's Harry Fawcett reports from Gyeongnam Province, South Korea.

Al Jazeera
Topics in this article
Featured on Al Jazeera
UNHCR says hundreds of people trapped in Yaloke town risk death if they are not evacuated to safety urgently.
'Justice for All' demonstrations swell across the US over the deaths of African Americans in police encounters.
Six former Guantanamo detainees are now free in Uruguay with some hailing the decision to grant them asylum.
Disproportionately high number of Aboriginal people in prison highlights inequality and marginalisation, critics say.
Long-standing dispute over Christian use of the word 'Allah' raises concerns about a very un-Merry Christmas.
The threat posed by ISIL has prompted thousands of young Kurds to join the PKK.
Baja California - with its own grim history of disappeared people - finds a voice in the fight against violence.
Russian feminist rockers fight system holding 700,000 - the world's largest per capita prison population after the US.
Weeks of growing protests against Muslims continue in Dresden with 15,000 hitting the streets last Monday.