earticle

영어

As Korea plans to achieve US$ 5billion in defense export by 2014, there are still many challenges Korean defense companies have to overcome to increase their market share in the global aerospace and defense markets. As countries with far more advanced defense industry have decades of global defense business experience, Korean defense industry will need to continue strengthening its ability to penetrate the increasingly more competitive global market. Furthermore, as defense export is also a business that each seller country government must provide full policy support, there needs to be more effort by the Korean government to help its defense industry overcome various challenges in the global market.
On this paper, we propose that Korea’s success in the global aerospace and defense markets will require a combination of factors including: understanding the market trends and opportunities, developing a strategic approach to succeed in response to emerging procurement trends, and developing the right international processes, including Reciprocal Defense Procurement Memorandum of Understanding (RDP-MOU) with the United States, and teams. With forethought, proper preparation, and long-term commitment the Korean defense and security sector can become a new leader among the nation’s export sectors.