Economic impact of defense projects by state agency estimated at $50.3 mil.

The economic impact of weapons systems developed by the Agency for Defense Development (ADD) since its establishment was estimated at 69.7 billion won ($50.3 million), a report showed Monday. The amount was calculated based on the value of 303 weapons systems, including 146 deployed by the military, developed by the state-run institution since its establishment in 1970, according to the report published on the occasion of the ADD's 55th anniversary. Among the weapons systems developed by the ADD were the Cheongung-II medium-range surface-to-air missile system and the K9 self-propelled howitzer, which were the two most-exported products in terms of amount. Weapons systems researched and developed by the ADD accounted for 43 percent of Korea's overseas defense exports, which totaled around 60 trillion won from 2008-2025, according to the report. Korea's defense technologies were assessed to be the world's eighth most advanced as of last year, according to a separate government report.Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times