South Korea and Japan arms industries grow nearly as fast as Russia's

 

 South Korea and Japan arms industries grow nearly as fast as Russia's

SEOUL -- In 2023, Russia led the world in arms-sales growth, gaining 40% from a year earlier. But it was the two countries that followed which caught the attention of readers of a new survey by the Stockholm International Peace Research Institute (SIPRI).
 
South Korea and Japan saw sales soar by 39% and 35%, respectively, far outpacing global growth of 4.2%.

Japan launched "its biggest military buildup program since the end of World War II" in 2022 and arms sales have followed, the report said. Mitsubishi Heavy Industries saw sales expand 24%.
 
South Korea's defense industry was led by Hanwha Group, which posted a sales increase of 53%.
 
South Korean companies have strength in land weapons, such as the K9 self-propelled howitzer, which is popular among countries worried about defending their borders.