• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
PoliticsHanwha
Asia

South Korea’s arms industry, once seen as backward for focusing on land weapons, is booming post-Ukraine

By
AFP
AFP
Down Arrow Button Icon
By
AFP
AFP
Down Arrow Button Icon
November 22, 2024, 12:31 AM ET
Seoul has long harboured ambitions to join the ranks of the world's top arms exporters, aiming to be the fourth-largest, behind the US, Russia and France.
Seoul has long harboured ambitions to join the ranks of the world's top arms exporters, aiming to be the fourth-largest, behind the US, Russia and France.Jung Yeon-Je—AFP via Getty Images

At the outskirts of a South Korean industrial city, workers at a sprawling weapons factory were conducting final-stage testing for a newly built surface-to-air defence system that could, eventually, head to Ukraine.

Recommended Video

Longstanding domestic policy bars Seoul from sending weapons into active conflict zones, but ever since its spy agency accused the nuclear-armed North last month of sending thousands of soldiers to help Moscow fight Kyiv, South Korea has warned it might change course.

If so, likely top of the list for Ukraine would be the “Cheongung”—or Sky Arrow—air defence system, a domestically-produced Iron Dome-style interception shield that AFP saw Thursday during an exclusive tour of the Hanwha Aerospace factory in the southern city of Changwon.

As the melody of Beethoven’s Fur Elise played on repeat over the in-house speaker, veteran welders worked on huge cylinders that will become part of the inceptor system, which is defensive in nature—although Hanwha also produces an attack-focused variant.

“The Cheongung system can be thought of as similar to the U.S. Patriot missile system,” said senior manager Jung Sung-young at Hanwha Aerospace, South Korea’s largest defence contractor.

Ukraine is reliant on Western air defence systems, particularly Patriots, to protect itself from Russian missile barrages—and has been calling for more deliveries.

Washington said in June it would prioritise deliveries to Kyiv, ahead of other countries that have placed orders.

But were South Korea, which remains technically at war with the nuclear-armed North and has maintained production of weaponry long ignored by Western arms industries, to get involved, it could potentially make a huge difference, experts say.

“As a divided nation, we have systematically established and implemented standards at the national level, from the development of these weapon systems to quality control,” said Jung.

“The quality, capability and manufacturing supply chain of our products is sufficiently competitive compared to those of other countries,” he added.

Whether—or how—South Korea decides to help Ukraine directly depends on “the level of North Korean involvement”, President Yoon Suk Yeol said earlier this month, adding Seoul was “not ruling out the possibility of providing weapons.”

If South Korea were to supply arms, the initial batch would be defensive in nature, Yoon said.

Combat ready

To fend off the steady barrage of missiles that have targeted Ukraine’s energy infrastructure and civilian areas, Kyiv urgently needs more air defences, Han Kwon-hee of the Korea Association of Defence Industry told AFP.

“Counteroffensives require stability in the rear zones, which is why Kyiv has also conducted drone attacks within Russia, including Moscow,” Han explained.

“They will help Ukraine hold off Russia’s offensives by intercepting drones and missiles flying deep into their territory,” he said—a huge boost for Kyiv, alongside the recent U.S. move to let it use long-range American missiles against targets inside Russia.

The South has remained combat-ready since its 1950-53 war with the North ended in a truce, and while Hanwha Aerospace, South Korea’s largest defence contractor, was once seen by analysts as retrograde for its focus on land weapons, it is now in high demand.

AFP saw a wide range of weaponry moving along assembly lines at the company’s sprawling Changwon factory, from infantry armoured vehicles to surface-to-air missile systems designed to intercept incoming missiles.

The heightened geopolitical tensions in Europe have heavily benefited the South Korean company, which saw its on-year operating profit soar over 450 percent in the latest quarter to $343.3 million.

It has signed major arms deals with countries such as Poland and Romania, including the export of K9 Howitzers and Chunmoo missile systems.

Weapons exports

Seoul has long harboured ambitions to join the ranks of the world’s top arms exporters—aiming to be the fourth-largest, behind the U.S., Russia and France—something that is now possible, industry research indicates.

It has already sold 155mm artillery shells to Washington—but with a “final user” agreement in place meaning the United States would be the military that uses the munitions.

Experts have said this allows the United States to then provide their own shells to Kyiv.

Hanwha’s other weapons offer that could shift the balance of war in Ukraine is its Chunmoo guided missile system, experts said.

“With a maximum range of 290 km (180 miles), Chunmoo can strike targets in Pyongyang if launched from the border area in the South,” said Choi Gi-il, professor of military studies at Sangji University.

“What Ukraine urgently needs to turn the war in its favour are offensive weapons like Chunmoo missiles and K9 howitzers, capable of inflicting significant damage on the enemy,” Choi added.

“If North Korea’s direct involvement in the war escalates, [Seoul] may consider sending lethal weapons, in addition to defensive ones.”

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Author
By AFP
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Donald Trump
Economycredit
The US is in a league of its own when it comes to its debt burden, as rating agencies bemoan ‘long-running deterioration’ in fiscal governance
By Tristan BoveMay 3, 2026
4 hours ago
Two female college roommates study together in the dorm
SuccessEducation
Trump wants to cut federal loans from college programs that don’t pay off. College cosmetology, fine arts, and music programs are at risk
By Preston ForeMay 3, 2026
4 hours ago
president donald trump
PoliticsDonald Trump
A $20B battleship the U.S. abandoned after WWII is back in Trump’s $1.5T defense budget. Experts say modern missiles will easily destroy it
By Jake AngeloMay 3, 2026
5 hours ago
US Federal Reserve Chair Jerome Powell departs a press conference at the Federal Reserve Board Building in Washington, DC, on April 29, 2026.
EconomyFederal Reserve
Fed whisperer splits on Powell: A+ as steward, but ‘I don’t think you could give him high marks on the economy’
By Eva RoytburgMay 3, 2026
5 hours ago
Trump vows to reduce U.S. troops in Germany ‘a lot further’ than 5,000 as defense official says armed services were blindsided by move
EuropeMilitary
Trump vows to reduce U.S. troops in Germany ‘a lot further’ than 5,000 as defense official says armed services were blindsided by move
By Kirsten Grieshaber, Emma Burrows, Aamer Madhani and The Associated PressMay 2, 2026
13 hours ago
 Trump says he is reviewing a new Iranian proposal to end the war but ‘can’t imagine that it would be acceptable’
PoliticsIran
 Trump says he is reviewing a new Iranian proposal to end the war but ‘can’t imagine that it would be acceptable’
By Aamer Madhani, Sarah El Deeb, Cara Anna and The Associated PressMay 2, 2026
13 hours ago

Most Popular

Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
Personal Finance
Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
By Fatima Hussein and The Associated PressMay 1, 2026
2 days ago
Gen Z is rebelling against the economy with ‘disillusionomics,’ tackling near 6-figure debt by turning life into a giant list of income streams
Economy
Gen Z is rebelling against the economy with ‘disillusionomics,’ tackling near 6-figure debt by turning life into a giant list of income streams
By Jacqueline MunisMay 2, 2026
23 hours ago
The American household just took an 81% margin cut. Wall Street hasn’t priced it in
Commentary
The American household just took an 81% margin cut. Wall Street hasn’t priced it in
By Katica RoyMay 2, 2026
1 day ago
Stop donating to Harvard and the Ivy League. There's a better option that MacKenzie Scott already figured out
Commentary
Stop donating to Harvard and the Ivy League. There's a better option that MacKenzie Scott already figured out
By Ed Smith-LewisMay 2, 2026
1 day ago
China dominates the world's lithium supply. The U.S. just found 328 years' worth in its own backyard
North America
China dominates the world's lithium supply. The U.S. just found 328 years' worth in its own backyard
By Jake AngeloApril 30, 2026
3 days ago
A Chick-fil-A worker got fired and then showed up behind the register to allegedly refund himself over $80,000 in mac and cheese
Law
A Chick-fil-A worker got fired and then showed up behind the register to allegedly refund himself over $80,000 in mac and cheese
By Catherina GioinoMay 1, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.