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February 7, 2022

South Korea receives first batch of 120mm self-propelled mortar system

The 120mm system has a longer striking range and stronger firepower, compared to its predecessor, the 4.2-inch mortar.

The South Korean Army has received the first lot of 120mm self-propelled mortar systems to improve the capabilities of its mechanised units.

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What is driving and impacting South Korea’s Defense Market?

South Korea’s defense budget is currently valued at $48.3 billion after experiencing impressive and robust annual growth of 10.5% in 2022. Over the forecast period, South Korean defense expenditure is anticipated to register a strong CAGR of 6.3% over 2023-27 and reach $66.2 billion by 2027. The country’s acquisition budget, which includes research and development (R&D) funding, is also anticipated to register significant growth, projected to reach $21.6 billion in 2027, seeing significant rise from the anticipated $17 billion in 2023. South Korean defense spending is continuing to be fueled by the country’s hostile relationship with North Korea, coupled with the need to develop its own domestic industry. If you want to strategize successfully off this growing market, it is important to be fully informed. This report’s key findings include:
  • Details on the defense budget
  • Drivers of defense spending
  • Key trends impacting the market
Download the full report so you can formulate winning strategies for the road ahead.
by GlobalData
Enter your details here to receive your free Report.

The new systems will replace the older 4.2-inch mortars, Yonhap news agency reported, citing the Defense Acquisition Program Administration (DAPA).

The deployment will continue through to 2025 under a $648.9m acquisition programme that also includes the development of fire direction centre vehicles.

The 120mm mortars will be mounted on armoured carriers and fire direction centre vehicles, to assist close fire support operations.

According to the DAPA, the new mortars have a longer striking range and stronger firepower compared to the 4.2-inch mortars, which have been in service for more than four decades.

The 120mm self-propelled mortar systems are developed and assembled by the local firm S&T Dynamics. Defence company Hanwha Defense supplied the carrier for the new mortar.

DAPA Maneuver Program Department brigadier general Cho Hyun-ki was quoted by Yonhap as saying: “The 120-mm self-propelled mortar is a core asset that elevates the operational capacities of South Korean mechanised units, in charge of offensive manoeuvre missions, to another level.”

Hanwha Defense recently signed an agreement with Egypt’s defence ministry to deliver K9 self-propelled howitzers to the African nation.

The deal, which includes the transfer of technologies and the production of K9s in Egypt, values more than $1.65bn.

Egypt is the first African nation to procure K9 self-propelled howitzers.

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Free Report
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What is driving and impacting South Korea’s Defense Market?

South Korea’s defense budget is currently valued at $48.3 billion after experiencing impressive and robust annual growth of 10.5% in 2022. Over the forecast period, South Korean defense expenditure is anticipated to register a strong CAGR of 6.3% over 2023-27 and reach $66.2 billion by 2027. The country’s acquisition budget, which includes research and development (R&D) funding, is also anticipated to register significant growth, projected to reach $21.6 billion in 2027, seeing significant rise from the anticipated $17 billion in 2023. South Korean defense spending is continuing to be fueled by the country’s hostile relationship with North Korea, coupled with the need to develop its own domestic industry. If you want to strategize successfully off this growing market, it is important to be fully informed. This report’s key findings include:
  • Details on the defense budget
  • Drivers of defense spending
  • Key trends impacting the market
Download the full report so you can formulate winning strategies for the road ahead.
by GlobalData
Enter your details here to receive your free Report.

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