President Lee vows to make Korea a global defense industry powerhouse

President Lee Jae Myung on Tuesday underscored his intention to invest in and develop the defense industry, aiming for South Korea to become a global powerhouse in the arms sector.

President Lee Jae Myung, center, speaks at an event to commemorate the inaugural K-Defense Day attended by leading Korean defense industry representatives and officials at a hotel in central Seoul on July 8. [JOINT PRESS CORPS]

President Lee Jae Myung on Tuesday underscored his intention to invest in and develop the defense industry, aiming for South Korea to become a global powerhouse in the arms sector. He noted that such capabilities not only bolster national security but also serve as a viable engine for the country's growth.

"When carrying out my duties as president, I always keep in mind public safety and peace, as well as creating a society where people do not have to worry about their livelihoods," Lee said at the inaugural K-Defense Day event held at the Grand Hyatt Hotel in central Seoul.

Speaking to Korea's leading defense industry representatives, Lee highlighted that the advancements in the defense sector help realize such goals, as it safeguards South Korea's national security, provides jobs and "plays an important role in elevating Korea's global standing."

The discussion-oriented event was attended by over 100 representatives from defense companies and agencies, including Hanwha Aerospace, LIG Nex1, Hyundai Rotem and Korea Aerospace Industries.

During his opening remarks, Lee noted that South Korea is "a divided nation, still technically at war, and one of the most militarized and dangerous countries in the world," as the 1950-53 Korean War ended in a cease-fire.

Lee noted that under such a security environment, the defense industry has developed as a domestically driven sector aimed at safeguarding national security, but is also gaining global recognition for its capabilities. He highlighted that South Korea is now a country that exports weapons systems globally, and credited this to the actors in the defense industry sector.

"I believe that the defense industry will not only strengthen the security of the Republic of Korea, but also become one of its future growth engines," Lee said, referring to the country's formal name.

Lee stressed the government will continue to focus on investing and supporting the defense industry "so that Korea can advance to become a global defense industry powerhouse."

President Lee Jae Myung, center front, salutes the flag at an event to commemorate the inaugural K-Defense Day, flanked by aides and defense industry representatives and officials at a hotel in central Seoul on July 8. [JOINT PRESS CORPS]

To this end, Lee called to enhance the "competitiveness of K-defense products in line with the changing security environment."

He said that to respond to rapidly evolving battlefield situations, Korea needs to "develop and advance cutting-edge weapons systems such as AI and unmanned ground vehicles," noting that he will look into areas where the government can provide further support.

Likewise, Lee noted that defense exports often require diplomatic engagement with the governments of other countries.

He promised to work toward security cooperation with other countries at the government level so that companies can have more opportunities."

However, Lee acknowledged that there is criticism that the defense industry is currently centered on a small number of large corporations, calling for "building an ecosystem so that many individuals or companies can participate regardless of their size."

During closed-door discussions at the event, participants expressed their views on the importance of securing AI technology and the urgent need to strengthen information accessibility through the establishment of an integrated defense data system, presidential spokesperson Kang Yu-jung said in a press briefing later Tuesday.

She shared that AI company and startup representatives also proposed that "instead of competing directly with large companies, they need a mechanism that allows them to compete in the form of a consortium."

Kang said that Lee shared that "since the defense industry is a field that requires creative and flexible thinking, opportunities should also be given to small- and medium-sized companies and startups."

President Lee Jae Myung presides over a Cabinet meeting at the Yongsan presidential office in central Seoul on July 8. [PRESIDENTIAL OFFICE]

In a Cabinet meeting earlier Tuesday at the Yongsan presidential office, Lee ordered officials to review the establishment of a command center for growing the defense industry "to achieve the goal of becoming one of the top four defense powerhouses."

Lee highlighted the achievements in the defense industry, noting, "During the Korean War, South Korea didn't have a single tank, but in 75 years, we have grown into the world's 10th largest defense industry."

He noted that South Korea signed a 9 trillion won ($6.7 billion) contract earlier this month to export Hyundai Rotem's K-2 tanks to Poland.

"The defense industry is a new growth engine for the economy and provides a solid foundation for our national defense capabilities," Lee said.

He instructed Cabinet members to make efforts in their respective ministries to nurture talent, invest in research and development and expand overseas export channels.

BY SARAH KIM [kim.sarah@joongang.co.kr]