South Korea aims to support the creation of 100 defense-focused startups by 2030, according to The Korea Times.
The initiative is intended to strengthen the country’s defense industry and accelerate the adoption of advanced technologies.
As part of the plan, the government will also focus on developing 30 high-growth startups capable of generating annual sales of 100 billion won (approximately $69 million) by 2030.
Moreover, the program will provide opportunities for startups to collaborate with military branches and established defense contractors, lowering barriers to market entry.
It also includes support for research and development from the early stages of weapons projects, aiming to ensure that startups can compete on an equal footing with larger companies in defense contracts.
Progress will be monitored through a joint effort of the Defense Acquisition Program Administration and the South Korean Ministry of Small- and Medium-sized Enterprises and Startups to track implementation and outcomes.
Recent Defense Projects
The initiative comes as South Korea considers ways to expand its defense capabilities.
The country is reportedly reviewing participation in the PURL program, NATO’s mechanism for financing weapons purchases for Ukraine.
Joining the program would advance Seoul’s efforts to strengthen defense exports and cooperation with European countries, as well as other NATO members.
At the same time, the Asian nation is boosting domestic defense innovation through recently launched projects.
Earlier this month, several South Korean companies partnered to develop a drone system that can conduct persistent intelligence, surveillance, and reconnaissance, addressing battery and endurance limitations.
In January, Seoul began exporting a domestically developed engine for the K2 Black Panther main battle tank, ending its long-standing reliance on German powerplants.
