DAPA Aims to Post $5 Bln in Defense Exports by 2022

Write : 2018-03-09 10:34:36 Update : 2018-03-09 14:42:09

DAPA Aims to Post $5 Bln in Defense Exports by 2022

The Defense Acquisition Program Administration plans to expand defense exports to five billion dollars by 2022.

In a report on Friday, the agency projected that in five years South Korean defense industries will post some 28 billion dollars in production, five billion dollars in exports and 50-thousand jobs. 

In order to increase defense exports, which totaled about three-point-two billion dollars last year, the agency will expand support for research and development and increase personnel and organizations charged with aiding defense exports.  

The agency believes that by boosting defense-related research and development, the percentage of localizing weapons systems will rise from 67 percent to 75 percent. 

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