Korean defence companies enjoy explosion
South Korean defence companies exploded amongst the ranks of the top 100 global defence companies, according to data released by the Stockholm International Peace Research Institute (SIPRI). Indeed, South Korean arms companies increased sales by an astounding 31.7% last year.
‘All South Korean companies show higher arms sales in 2015, reflecting their growing capacity to meet the South Korean Ministry of Defence’s demand and their ongoing success in the international market,’ a SIPRI analyst commented.
There were seven Korean companies in the top 100, led by LIG Nex1 at number 52 with sales of $1.68 billion. The company increased sales
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