Major Arms Deal South Korea Aims for with UAE Worth $15 Billion

SadaNews - South Korea is working to enhance its relationships with buyers in the Middle East as part of its efforts to secure potential arms contracts worth up to $15 billion in the UAE, benefiting from its successes in Europe to establish its reputation as a reliable arms supplier.

South Korean President Yoon Suk-yeol arrived in Abu Dhabi on Tuesday to hold a summit with his Emirati counterpart Sheikh Mohammed bin Zayed Al Nahyan, coinciding with the Dubai Airshow, where "Korea Aerospace Industries" showcased its KF-21 fighter jet.

Korean-UAE Defense Cooperation Agreement

Following the meeting, the South Korean presidency announced that the two countries had agreed to adopt a model based on joint development, local production, and export to third countries in the field of defense cooperation.

South Korea's Chief of Staff, Kang Hoon-sik, stated in comments to reporters, "Establishing this integrated value chain would enhance our defense companies' opportunities to win contracts exceeding $15 billion."

Emirati Interest in the Korean KF-21 Fighter

Although Kang did not disclose details of the potential deal, the UAE had previously expressed interest in the Korean KF-21 fighter. Last April, a delegation from the UAE Air Force visited the manufacturing facilities of "Korea Aerospace Industries" and one of the leaders participated in a test flight of the aircraft prototype.

The UAE had previously sought to purchase U.S. F-35 jets but suspended negotiations in 2021 after Washington requested it to remove "Huawei" equipment from telecommunications networks and take other steps to limit its relations with China.

Russian "United Aircraft" is also in the competition, offering its stealth aircraft Su-57E, which has yet to record any export deals. The unit cost has not been revealed, and information about the performance of this twin-engine fighter remains limited, making it difficult for potential buyers to assess its capabilities.

The Middle East is a Priority for Korean Arms Companies

Cha Jae-byeong, Vice President of "Korea Aerospace Industries", said: "We are witnessing a significant increase in interest in the Middle East and Africa markets, including the UAE, thanks to the reliability our aircraft have demonstrated through stable operations in Southeast Asia, South America, and Europe."

Meanwhile, "Hanwha Aerospace" continues to enhance its presence in the region. An official from the company revealed in a statement to Bloomberg earlier this year that it is in talks with both Saudi Arabia and the UAE regarding potential cooperation in the field of armament, indicating that the Middle East has become a priority for the company.

Korean Ambition Rising in Defense Industries

At the end of last month, Canadian Prime Minister Mark Carney toured "Hanwha Ocean", which is competing for a billion-dollar contract to supply submarines to his country. U.S. Navy Vice Admiral Darryl Couturier also visited two of South Korea's foremost shipyards during his first visit to the country.

Despite the smaller size of South Korean companies compared to major defense industry firms like "Lockheed Martin" and "BAE Systems", South Korean manufacturers have successfully established a strong reputation for speed and reliability, bolstered by decades of military readiness against ongoing threats from its heavily armed northern neighbor.

According to a report issued in March by the Stockholm International Peace Research Institute, South Korea is currently ranked tenth among the world's largest arms exporters and aims to reach fourth place by 2027.