South Korea's defence industry continues to see a surge in export sales with the increase in demand from militaries worldwide. The strength and capability of the industry have gained traction from not only from Asia-Pacific nations, but those beyond the region. South Korea, under the umbrella of Korea Defence Industry Association, continues to enjoy astounding success in the global defence market, at par with other global defence manufacturers. The strength of South Korean defence industry lies in its technical ability to manufacture sophisticated military hardware. Remarkably, it has been able to do so in not just one, but across three domains: land, sea, and air. The government announced a defence budget of KRW50.15 trillion ($41.29 billion) for 2020, an increase of 7.4% from last year's budget of KRW46.7 trillion ($37.8 billion). This marks the first time that the country's defence budget has surpassed the KRW50 trillion mark. From the total, the government will spend KRW16.7 trillion ($5.4 billion) on arms purchases and other projects to boost defence capabilities, an increase of 8.5% from last year. Looking into details, the defence ministry earmarked KRW6.2 trillion ($5 billion) for projects aimed at countering threats from nuclear and other weapons of mass destruction, up 22.6% from last year.
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