Media: S. Korea, Saudi Arabia sign defence co-operation agreement
South Korea and Saudi Arabia have signed a memorandum of defence co-operation, as Seoul looks to continue arms sales in the region, Reuters reports
The agreement envisages the creation of a joint committee to form a working party for research and development, as well as production of weapons systems.
“Defence Minister Shin Won-sik, who visited Riyadh to attend the World Defence Show as part of a week-long trip to the Middle East, and his Saudi counterpart Khalid bin Salman Al Saud were present at the signing of the agreement,” the publication reads.
South Korea is seeking to boost sales to become one of the world’s largest arms suppliers despite tough competition from other global exporters, the news agency said. According to the country’s Defence Ministry, its arms sales increased to $17bn in 2022 from $7.25bn a year earlier.
