S. Korea ranks 10th largest world arms exporter

South Korea accounted for 2.1 percent of the world's total defense exports from 2015 to 2019 to be ranked the 10th-largest arms exporter.

South Korea ranked 11th in the previous ranking.

The Global Defense Market Yearbook 2020 published by the Defense Agency for Technology and Quality, identified the UK, Iraq, and Indonesia as the main buyers of South Korea's defense products.

The US remained the top arms exporter. Russia, France, Germany, and China rounded up the top five defense exporters that account for 76 percent of the world's total.

Saudi Arabia, India, Egypt, Australia, and China were the top arms importers, accounting for 36 percent of the total.

The amount of global arms transactions surged 5.5 percent during the cited period compared with the previous five years.

South Korea had three out of the world's top 100 defense companies: Hanwha Aerospace Co. at 46th, Korea Aerospace Industries at 60th, and LIG Nex1 Co. at 67th.

The US had 43 firms on the list, whose combined sales accounted for 59 percent of the top 100 defense companies.

Air equipment accounted for the largest portion with 44.5 percent, trailed by vessels with 13.2 percent, missiles with 12.7 percent, and armored vehicles with 11.2 percent.