[Graphic News] NK threats energize S. Korean arms market

Faced with constant missile and nuclear threats from its belligerent northern neighbor, South Korea is boosting its arms sales and aims to become a major exporter, a study said.

South Korea‘s arms industry accounted for 2.2 percent of the global top 100 producers’ sales in 2016, the Stockholm International Peace Research Institute said in a report listing the world‘s “top 100” military services.

South Korean arms-producing companies’ combined sales totaled $8.4 billion the same year with a 20.6 percent rise in sales compared to 2015, SIPRI added.