KDReview

// Open-source defense intelligence

Korean defense.
Follow the evidence.

Explore South Korean weapons systems, defense companies, and arms exports. Connect contract records with country profiles and sourced industry reporting.

Public-source research · About our coverage

Defense Companies

15

Weapons Systems

53

Tracked Contracts

56

Reported Deal Value

$139.0B

22 buyer countries, including South Korea

Coverage includes export deals and domestic procurement at different stages. Reported values are not realized export revenue.

// Latest reporting

Korean defense news

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DAPA extends the KF-21's S1000D international technical manuals to K2PL, K9, and other export systems

The Defense Acquisition Program Administration presented its KF-21 S1000D electronic technical-manual work at an international S1000D forum on September 28, 2026 and said it will apply the international-standard approach to other export weapon systems, including the K2PL tank for Poland and the K9 howitzer. S1000D-compliant manuals let foreign operators integrate Korean equipment into their own logistics and training systems, which DAPA describes as a way to support follow-on logistics and sustainment revenue on export programs. The KF-21 was the first Korean weapon system to be documented fully to the standard.

| News1 / Newspim

Deals to watch, Q4 2026: Malaysia FA-50M arrivals, Iraq and Romania K2 decisions, Saudi packages, Thai frigate, and K-DEX

KDReview's watchlist for the fourth quarter of 2026. Malaysia's first two FA-50M jets are due at Kuantan Air Base in October, with the 18-aircraft order completing by March 2028. Iraq's review of up to 250 K2 tanks (about $6.5 billion) remained unsigned as of July, with analysts expecting a 2026 signature. Romania's 216-tank tender awaits a localization study. Peru's K2 and K808 implementing contract is suspended over a $1.5 billion advance payment. Indonesia's 16 KF-21s and the Philippines' two submarines are unsigned. In Saudi Arabia, Hanwha Defense Arabia is targeting a roughly KRW 15 trillion National Guard land-forces modernization with K9 and Chunmoo, while Hanwha Ocean weighs four to six submarines and five frigates. Thailand's OCEAN-40F frigate award to Hanwha Ocean faces rival complaints before a final contract. On the calendar: Armed Forces Day on October 1 at Gyeryongdae with AI-enabled weapons on display and no parade, and the first K-DEX on December 8 to 11 at KINTEX, where eleven countries including the US, Saudi Arabia, India, Norway, Finland, and Latvia will brief on procurement.

| KDReview roundup (Korea Herald, Malay Mail, Seoul Economic Daily, BusinessKorea, Asian Military Review)

Deals to watch: Hanwha Ocean and HD Hyundai face three European yards for the Philippines' first two submarines

The Philippines is evaluating bids for its first two diesel-electric submarines under the Re-Horizon 3 modernization program, with a budget of about $1.4 to 2.0 billion. Hanwha Ocean and HD Hyundai Heavy Industries compete against Naval Group, Navantia, and a Fincantieri and TKMS offer. As of September 27, 2026 no award had been made; the program entered proposal-review stages in September, and HD Hyundai is seen as having an edge from its Subic Bay logistics center. A Korean win would extend the naval relationship built on the two HD Hyundai-built Miguel Malvar-class frigates. Next milestone: award decision, date unknown.

| Defence Security Asia / UPI

Korea and Mexico sign defense cooperation MOU as KAI, POSCO International, and FEMIA agree on FA-50 support

During President Lee Jae-myung's state visit to Mexico, the two governments signed 17 agreements on September 25, 2026 covering critical minerals, artificial intelligence, defense, and space, including a bilateral defense cooperation memorandum. Separately, Korea Aerospace Industries, POSCO International, and Mexico's aerospace industry federation FEMIA signed a memorandum on operations and maintenance technology for the FA-50, unmanned aerial vehicles, and satellites. Mexico has no FA-50 on order, and the agreement is framed as a first step toward an eventual sale of the light combat aircraft to the Mexican Air Force, which still operates aging F-5s.

| Seoul Economic Daily / Korea JoongAng Daily
Mexico KAI FA-50 POSCO International

// Procurement & exports

Latest Contracts

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// Database

Defense Companies

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ADSYSTEM

에이디시스템

HQ: Cheonan, South Korea

stealth VTOL UAVs reconnaissance drones training drones

Dasan Machine

다산기공

HQ: Changwon, South Korea

grenade launchers weapons accessories defense components

EGCED Tech

익시드테크

HQ: Seoul, South Korea

defense AI military education on-device AI

Hanwha Aerospace

한화에어로스페이스

HQ: Changwon, South Korea

artillery aerospace defense electronics

Hanwha Ocean

한화오션

HQ: Geoje, South Korea

submarines naval vessels commercial shipbuilding

Hanwha Systems

한화시스템즈

HQ: Pangyo, South Korea

radar C4ISR defense electronics

Hyundai Rotem

현대로템

HQ: Changwon, South Korea

tanks armored vehicles rail systems

Korea Aerospace Industries

한국항공우주산업

HQ: Sacheon, South Korea

fighter aircraft trainer aircraft helicopters

LIG Nex1

LIG넥스원

HQ: Pangyo, South Korea

missiles precision-guided munitions electronic warfare

Nara Space Technology

나라스페이스테크놀로지

HQ: Seoul, South Korea

microsatellites earth observation satellite imagery analysis

Nearthlab

니어스랩

HQ: Seoul, South Korea

counter-drone UAVs autonomous interceptors

Pablo Air

파블로항공

HQ: Seoul, South Korea

UAVs drone swarm autonomous systems

Poongsan Corporation

풍산

HQ: Seoul, South Korea

ammunition defense materials non-ferrous metals

S&T Motiv

S&T모티브

HQ: Changwon, South Korea

small arms machine guns automotive parts

StepLab

스텝랩

HQ: Daejeon, South Korea

space mechanisms cubesat deployers deployable antennas

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