President Lee Holds Discussion to Mark First Defense Industry Day
Aiming to Join the World's Top Four Defense Powers...
"Hoping the Defense Industry Becomes a Future Growth Engine for Korea"
"The Government Will Invest, Support, and Pay Close Attention"
President Lee Jaemyung emphasized the need to strengthen the competitiveness of K-defense industry products and to establish a defense industry ecosystem in which companies can participate regardless of their size, in line with changes in the security environment, during a discussion with the defense industry held to mark the first-ever Defense Industry Day. He also promised that the government would make every effort at the national level, considering the high proportion of exports in the defense industry.
On July 8, President Lee made these remarks at the "Defense Industry Day Discussion" held at the Grand Hyatt Hotel in Yongsan-gu, Seoul. The event was attended by more than 100 representatives from defense companies, including Hanwha Aerospace and LIG Nex1, as well as Won Junhee, President of the Defense Small and Medium Venture Business Association; Lee Geonwan, President of the Agency for Defense Development; Son Jaehong, President of the Defense Agency for Technology and Quality; and Yoon Heeseong, President of the Export-Import Bank of Korea. From the government, Seok Jonggeon, Commissioner of the Defense Acquisition Program Administration, and Lee Hanju, Chairman of the National Planning Committee, were present. From the Presidential Office, Policy Chief Kim Yongbeom, Fiscal Planning Advisor Ryu Deokhyeon, and Chief of Economic Growth Ha Junkyung also attended.
President Lee stated, "The defense industry is an industry that protects the security of the Republic of Korea. Until now, it has grown centered on domestic demand, but now, our capabilities are recognized and we have become a country that exports weapons systems to the world." He added, "I hope that this trend will continue so that the defense industry not only strengthens Korea's security but also becomes one of the future growth engines of the Republic of Korea."
President Lee went on to stress that the security industry plays an important role in protecting Korea's security and jobs, as well as in raising Korea's status in the world. To this end, he said, "Going forward, our government will make greater efforts to invest in, support, and pay attention to the defense industry, so that we can become a global powerhouse in the defense sector."
He further announced plans to strengthen the competitiveness of K-defense products, build a robust defense industry ecosystem, and enhance government support for exports. President Lee said, "First, I believe we must strengthen the competitiveness of our K-defense products in response to changes in the security environment. On the rapidly changing battlefield, we need to develop and advance competitive weapons systems such as artificial intelligence and unmanned robots. Our government will look for roles it can play in this regard."
President Lee also pointed out, "There are concerns that the defense industry sector is currently centered around a few large corporations, but there is a need to establish an ecosystem in which many people and companies, regardless of size, can participate." He continued, "Since intergovernmental cooperation is extremely important in the export sector, the government will do its utmost to ensure that many individuals and companies working in our defense industry have more opportunities by achieving security cooperation at the national level."
Earlier that morning, during a cabinet meeting, President Lee instructed, "I hope that all ministries will make efforts in areas such as nurturing talent, investing in research and development, and expanding overseas markets." He also ordered a review of the establishment of a control tower to foster the defense industry and the regularization of the "Defense Industry Export Promotion Strategy Meeting" to help achieve the goal of becoming one of the world's top four defense powers.
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