Korean defense exports enter a new phase as buyers demand local production, with $27 billion forecast for 2026

A Korea Times analysis published September 19, 2026 puts Korean defense exports at $9.5 billion in 2024 and $15.4 billion in 2025, with a 2026 forecast of about $27 billion. European buyers increasingly want industrial capability rather than finished equipment, citing Hanwha Aerospace's K9 plant in Romania and the Hyundai Rotem-PGZ localized K2PL production in Poland. The piece also flags technology-transfer risk, pointing to Turkey's Altay tank program, which drew on K2 technology, as a case where a buyer became a competitor.