Azernews.Az

by Alimat Aliyeva

South Korea and the North Atlantic Treaty Organization (NATO) have begun negotiations on a framework agreement that could allow South Korean companies to gain access to the alliance’s joint defense procurement market, which is estimated to be worth around 15 trillion won (approximately $9.9 billion), AzerNEWS reports.

The announcement was made by South Korea’s National Security Adviser Wi Sung-lac during the NATO summit in Ankara. According to him, the agreement was reached following a meeting between South Korean President Lee Jae-myung and NATO Secretary General Mark Rutte.

Wi Sung-lac emphasized that NATO’s defense market is the largest military procurement market in the world and that closer cooperation could create new opportunities for South Korean defense companies. The potential agreement may allow South Korean firms to participate more actively in NATO-related projects, including the development and supply of advanced military equipment.

South Korea has recently become one of the fastest-growing defense exporters, with companies producing tanks, artillery systems, aircraft, and other military technologies. Seoul has expanded its defense cooperation with several countries, particularly in Europe, as many nations seek to strengthen their military capabilities.

During the summit, President Lee Jae-myung also announced that South Korea would provide $100 million in humanitarian and reconstruction assistance to Ukraine. The aid is expected to support recovery efforts and civilian needs amid the ongoing conflict.

The talks with NATO mark another step in South Korea’s efforts to deepen security cooperation with Western partners while expanding the global presence of its defense industry.