South Korea Emerges as World’s Fastest-Growing Arms Exporter, Report Says

South Korea has climbed to ninth place among global weapons suppliers. New data shows its defense exports are surging at a pace few rivals can match.

South Korea Climbs Global Arms Rankings

South Korea has become one of the fastest-growing arms suppliers on the planet. That’s according to Politico, which cited a fresh report from the Stockholm International Peace Research Institute (SIPRI).

The Politico report states plainly “South Korea has become the ninth-largest arms supplier in the world… It is one of the fastest-growing arms exporters in the world.”

That growth isn’t slowing down anytime soon, either.

Four Companies, $37 Billion in Sales

The report points to four major South Korean defense firms driving this surge Hanwha Group, Hyundai Rotem, LIG Nex1, and Korea Aerospace Industries. Combined, these companies are projected to earn roughly $37 billion this year.

That figure is nearly four times higher than what they earned back in 2021. It’s a staggering jump in just five years.

Second Only to the United States in Europe

South Korea’s rise doesn’t stop there it now ranks as the second-largest arms supplier to European NATO member states. Only the United States sells more weapons to NATO’s European members.

This puts Seoul in rare company among global defense powers. Few nations have expanded their military export footprint this quickly.

The findings highlight how South Korea’s defense industry has transformed in recent years. Once a regional player, it now competes on a genuinely global stage.