The South Korean defense industry was stung by the recent decision of the Canadian government to select a German design for its next generation of submarines, but it has moved swiftly to make a new play for a greater share of growing global defense spending.
South Korea has long maintained a robust defense sector, in order to protect the nation from a belligerent and unpredictable regime over its border in North Korea.
Successive governments in Seoul, however, have also placed greater emphasis on developing export markets in the last decade.
That tactic has paid off since Russia's full-scale invasion of Ukraine in February 2022.
"South Korea is in a unique political and geopolitical situation because of North Korea and our heavy reliance on the US military presence for security," said Park Saing-in, an economist at Seoul National University.
