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South Korea and Saudi Arabia sign defence cooperation agreements
Saudi Arabia's newly appointed Defence Minister, Prince Khalid bin Salman Al-Saud is seen during his meeting in the Ministry of Defence in Jeddah, Saudi Arabia, September 27, 2022. Saudi Press Agency/Handout via REUTERS/File Photo
South Korea and Saudi Arabia have signed a memorandum of understanding aimed at expanding their defence cooperation, as announced by Seoul’s Defense Acquisition Program Administration (DAPA). This move comes as Seoul seeks to further solidify its arms sales presence in the region.
According to DAPA’s press release on Monday, the agreement entails the establishment of a joint committee to create a working group dedicated to research, development, and production of weapons systems, ensuring continued collaboration in defence efforts.
The signing ceremony was attended by Defence Minister Shin Won-sik, who was in Riyadh for the World Defense Show as part of his week-long visit to the Middle East, along with his Saudi counterpart Khalid bin Salman Al Saud, as reported by DAPA.
Shin emphasised the establishment of a foundation for defence cooperation, characterising it as a “future-oriented strategic partnership,” according to a press release from South Korea’s defence ministry.
Shin also held discussions with Abdullah bin Bandar Al Saud, Saudi Arabia’s Minister of National Guard, focusing on enhancing bilateral military cooperation and defence partnerships, the ministry disclosed.
South Korea aims to elevate its arms sales to become one of the world’s leading weapons suppliers, despite facing stiff competition from other global arms exporters. Data from the defence ministry revealed a significant surge in arms sales from $7.25 billion in the previous year to $17 billion in 2022.
The Korea Chamber of Commerce and Industry reported that the country’s weapons exports to the Middle East increased nearly tenfold between 2013 and 2022.
Recent deals between South Korean companies Hanwha, Poongsan, and LIG Nex1 and Saudi Arabia, valued at approximately $989 million for multiple rocket launchers, ammunition, electro-optical systems, and more, indicate potential for further agreements, as highlighted in a November report by the London-based International Institute for Strategic Studies (IISS).
The report underscored that Arab Gulf states are seeking to diversify their defence procurement sources beyond traditional Western suppliers, with Seoul offering advanced equipment alternatives often at competitive prices and shorter lead times.
