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Korea's defense industry is expected to record the largest exports in history between US$900 million and $1 billion this year. A military source on Thursday said the defense industry had exported $810 million of export as of the end of last month. "We expect the amount to go up to $900 million at least as the end of the year, and there's a chance that it could go as high as W1 billion," the source said. The industry posted exports of $240 to 410 million between 2001 and 2006, rising sharply to $840 million last year.
This year, Korea's successes include signing a contract to export 55 KT-1 basic trainer jets worth $500 million and technology for the next-generation Black Panther tank to Turkey. It also signed contracts to change the wings of the A-10 attackers for the U.S. Army and with Egypt to make 155 mm projectiles.
The industry awaits final approval on repairing the portholes of submarines for a Southeast Asian country and exporting communication facilities. If both are signed, defense exports could exceed $1 billion.
(englishnews@chosun.com )
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