This handout photo taken on May 25, 2022 and provided by the South Korean Defence Ministry in Seoul shows South Korea firing a Hyunmu-2 missile from an undisclosed location on South Korea's east coast. (HANDOUT / SOUTH KOREAN DEFENCE MINISTRY / AFP)
SEOUL – South Korea will increase government support for the domestic development of weapon components, the arms procurement agency said Monday.
The Defense Acquisition Program Administration (DAPA) announced its 2023-2027 roadmap to domestically develop arms components by offering financial support to local companies.
The Defense Acquisition Program Administration announced its 2023-2027 roadmap to domestically develop arms components by offering financial support to local companies
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Under the support program, selected firms can receive up to 75 percent of research and development costs for the homegrown weapon parts.
The scope of state support would range from carbon fiber for advanced aircraft to metal alloy in gas turbine engine and raw materials in high-performance explosives for guided weapons, according to Yonhap news agency reports.
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With the roadmap, the country aimed to nurture 100 small firms specializing in arms components and localize the production of weapons parts by 80 percent.