South Korea and Saudi Arabia Finalize Defense Industry Cooperation
South Korea and Saudi Arabia are close to finalizing a large-scale defense industry cooperation agreement, encompassing areas such as antiaircraft defense systems and firearms. The revelation was made by Principal Deputy National Security Adviser Kim Tae-hyo during South Korean President Yoon Suk Yeol’s state visit to Saudi Arabia. Stressing the significance of defense industry cooperation, Kim stated that the two countries are engaged in discussions aimed at establishing long-term and systematic programs.
Both South Korea and Saudi Arabia aim to leverage their defense industry technologies to strengthen the latter’s defense capabilities. South Korea, known for its excellent defense sector, intends to lend its support to Saudi Arabia in this regard. Kim additionally highlighted that such cooperation would serve as a powerful catalyst for expediting South Korea’s achievements in defense industry exports, with last year’s figures standing at a record-breaking $17.3 billion.
During the visit, President Yoon held a summit with Saudi Crown Prince Mohammed bin Salman where they exchanged views on the ongoing conflict between Israel and Hamas. In response to the humanitarian situation, both leaders expressed their shared consensus on the imperative need to prevent further deterioration and restore peace in the region. Emphasizing the Republic of Korea’s commitment to contributing to regional stability, President Yoon affirmed that the country would fulfill its role as required.
Furthermore, the two sides have agreed to issue a joint statement summarizing their comprehensive cooperation in all sectors and outlining future directions. Currently, they are in the process of finalizing the text of the statement, which further underscores the significance they place on their burgeoning partnership.
This latest development in defense industry cooperation between South Korea and Saudi Arabia highlights the expanding bilateral ties and affirms the growing role of the defense sector as a potential blue ocean for collaboration. As the negotiations near their conclusion, both countries anticipate mutually beneficial outcomes and strengthened defense capabilities for Saudi Arabia. The cooperation also holds the potential to bolster South Korea’s defense industry exports, further solidifying its position as a global player in the sector.
