Korean defense firms eyeing Africa, Middle East markets

01-Dec-2021 Intellasia | KoreaTimes | 5:02 AM Print This Post

Korean defense firms are eyeing the African and Middle East markets, with a total of 14 companies participating in the Egypt Defence Expo (EDEX) 2021, running from Monday to Friday at the Egypt International Exhibition centre in Cairo.

Since starting in 2018, the biennial EDEX is the biggest defense exhibition event in the African region. About 350 defense firms from around 40 countries across the world are participating in this year’s event.

Among the 14 Korean companies were four big companies: Hanwha Defense promoting its K9 self-propelled howitzer (SPH); Hyundai Rotem with tanks; Poongsan with ammunitions; and Hancom Lifecare with gas masks. Ten other small and medium-sized companies are also presenting their defense equipment, such as ballistic goggles or search light drones, in a joint booth organised by the Korea Defense Industry Association.

Korean defense firms are eyeing the African and Middle East markets, with a total of 14 companies participating in the Egypt Defence Expo (EDEX) 2021, running from Monday to Friday at the Egypt International Exhibition centre in Cairo.

Since starting in 2018, the biennial EDEX is the biggest defense exhibition event in the African region. About 350 defense firms from around 40 countries across the world are participating in this year’s event.

Among the 14 Korean companies were four big companies: Hanwha Defense promoting its K9 self-propelled howitzer (SPH); Hyundai Rotem with tanks; Poongsan with ammunitions; and Hancom Lifecare with gas masks. Ten other small and medium-sized companies are also presenting their defense equipment, such as ballistic goggles or search light drones, in a joint booth organised by the Korea Defense Industry Association.

Their participation in the second edition of the international arms exhibition hosted by the Egyptian Armed Forces drew attention among global defense watchers, especially because it came weeks after the United Arab Emirates (UAE) defense ministry’s announcement in mid-November of its plan to acquire Korean-made, mid-range surface-to-air missiles (M-SAM). Defense watchers are paying close attention to whether or not there is the possibility of a similar weapons export deal being struck in Egypt.

Currently, negotiations are underway between Hanwha Defense and the Egyptian military over the latter acquiring a package of K9 SPHs and other supporting vehicles. Expectations are high among defense industry officials that a future weapons export deal in Egypt, once made, would pave the way for local defense companies to gain global standing, especially in the African and Middle East markets.

The Korean firms are eyeing future possible opportunities in the Egyptian market especially, as the Egyptian Armed Forces is currently carrying out a modernisation of its military forces, while diversifying its supplier nations.

The EDEX 2021 was crowded with participants, including members of the Egyptian Armed Forces and other buyers and sellers from other countries around the world. Egyptian President Abdel Fattah Al-Sisi inaugurated the event, Monday, and visited the Hanwha booth to listen to the progress of the K9 project in Egypt.

https://www.koreatimes.co.kr/www/nation/2021/11/205_319706.html

 

Category: Korea

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