[News Today] “Stronger defense industry for self-reliance”

[LEAD]
South Korea's largest defense exhibition, Seoul ADEX, has opened with record participation amid booming K-defense exports.

At the event, President Lee Jae Myung stressed securing self-reliant defense. Here's more.

[REPORT]
The Seoul International Aerospace and Defense Exhibition has drawn more than 600 companies from 35 countries, the most ever.

The event is showcasing the latest technologies to be applied in future battlefields, such as AI-based unmanned tanks and self-propelled artillery.

President Lee Jae Myung visited the exhibition booths to hear explanations about the products and ask about their domestic production rates and price competitiveness.

Lee Jae Myung / President
So the target is set like this.

At an ensuing forum, the president stressed the importance of fostering the defense industry to achieve self-reliant national defense.

Lee Jae Myung / President
The key is developing our defense industry, localizing more and expanding globally.

Lee also vowed to make massive investments beyond expectations in defense and aerospace R&D by 2030 to make Korea one of the world’s top-four defense powerhouses.

Lee Jae Myung / President
We should increase the defense budget and use it for industrial and economic development.

He warned against monopolies by major corporations, saying the government will strengthen the competitiveness of small and startup firms and penalize unfair cost cutting.

Presidential chief of staff Kang Hoon-sik, who has been appointed as a special envoy for defense industry cooperation, has left for Europe to promote defense industry exports.

Since defense exports rely not only on military cooperation but also on corporate and government financing, the presidential office said it will take the lead in boosting orders.

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