Seoul, Jan 5 (IANS) South Korea exported defence products worth $1.17 billion in 2009, officials here said Tuesday.
The better-than-expected performance by mid- and small-tier companies and the diversification of products largely contributed to the increase in the exports of defence products, WAM news agency reported quoting the Acquisition Programme Administration (DAPA).

South Korea’s annual defence exports remained around $250 million between 2002 and 2006, but the amount quadrupled in 2007 and reached over $1 billion for the first time in 2008, the DAPA said in a statement.

South Korean firms have exported defence products to 74 countries last year.

Last year’s exports included submarine systems and airplane components. The top buyers were the US, Germany and Indonesia.

–Indo-Asian news Service

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