President Yoon Chairs the '2022 Defense Industry Export Strategy Meeting'
President Yoon Encourages KF-21 Demonstration Flight Pilot(Sacheon=Yonhap News) Reporter Seomyeongon = On the morning of the 24th, President Yoon Seok-yeol visited Korea Aerospace Industries (KAI) in Sacheon, Gyeongnam, and encouraged Lieutenant Colonel Lee Jin-wook (Jin), the pilot of the domestically produced supersonic fighter KF-21 demonstration flight, before moving on. 2022.11.24
Photo by Seomyeongon
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[Asia Economy Sejong=Reporter Lee Jun-hyung] The government will invest more than 1 trillion won in civilian-military technology cooperation by 2027 to strengthen defense industry competitiveness. The government aims to become one of the world's top four defense export countries by 2027 by significantly enhancing research and development (R&D) in the defense sector.
On the 24th, the Ministry of Trade, Industry and Energy announced that it held the '2022 Defense Export Strategy Meeting' at Korea Aerospace Industries located in Sacheon, Gyeongnam, presided over by President Yoon Suk-yeol. The meeting was attended by Minister Lee Chang-yang of the Ministry of Trade, Industry and Energy, Vice Minister Shin Beom-cheol of the Ministry of National Defense, Director Um Dong-hwan of the Defense Acquisition Program Administration, chiefs of the Army, Navy, and Air Force, and representatives from 60 defense industry companies. This was the first time President Yoon held a joint civilian-government-military meeting for defense export strategy.
Minister Lee announced five core tasks to expand defense exports. The Ministry of Trade, Industry and Energy plans to invest more than 1 trillion won by 2017 in civilian-military technology cooperation, including transferring defense technology to the civilian sector and incorporating civilian innovative technologies into the defense field. Additionally, the ministry will promote the development of 40 core materials and components, including carbon composite materials, which are key materials in the defense industry. Next month, the ministry plans to announce a strategy to strengthen competitiveness to increase the global market share of carbon composite materials to 10%.
Efforts to nurture talent, a core of the defense ecosystem, will also be accelerated. The ministry will invest an annual budget of 50 billion won in the fields of machinery, aviation, and materials-parts-equipment (SoBuJang) to train about 3,300 personnel. Customized export financing for small and medium-sized enterprises will be prepared, and defense support infrastructure will be strengthened by increasing the number of KOTRA defense leading trade offices from 20 this year to 30 next year. The ministry plans to concretize these core tasks and establish the '3rd Basic Plan for Civilian-Military Technology Cooperation Projects.'
President Yoon Seok-yeol speaking at the Defense Industry Export Strategy Meeting(Sacheon=Yonhap News) Reporter Seo Myeong-gon = President Yoon Seok-yeol is speaking at the 2022 Defense Industry Export Strategy Meeting held at Korea Aerospace Industries (KAI) in Sacheon, Gyeongnam, on the morning of the 24th. 2022.11.24
Photo by Seo Myeong-gon
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Vice Minister Shin announced four core tasks from the Ministry of National Defense. The ministry plans to create a 120 billion won Defense Technology Innovation Fund to finance venture companies in the defense sector. It will also promote projects such as the 'Defense Innovation Company 100 Project' and the 'Defense Venture Company Incubating Project' to support ventures and small and medium-sized enterprises entering the defense market.
The Ministry of National Defense also presented a plan to become one of the world's top four defense export countries by 2027 through proactive R&D. To this end, the ministry plans to increase the proportion of R&D budget to more than 10% of the defense budget by 2027. It will also reduce development risks in the defense sector through deregulation and strengthening incentives for excellent researchers. Through these R&D policies, the ministry aims to proactively secure eight future defense technologies, including artificial intelligence, hypersonics, unmanned and autonomous systems.
Meanwhile, President Yoon discussed ways to expand defense exports with defense industry officials attending the meeting. The defense industry proposed measures such as forming a civilian-government-military one team, strengthening government defense R&D, and establishing a control tower. A government official said, "The Ministry of Trade, Industry and Energy and the Ministry of National Defense will continue to actively listen to voices from the field," adding, "We will do our best to become one of the world's top four defense export powers."
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