South Korean defense and AI stocks soar on global interest
South Korean defense stocks have experienced significant gains as tensions on the Korean Peninsula rise and global demand for weapon systems increases. Hanhwa Aerospace, a subsidiary of Hanhwa Group, saw a 66% rise in its stock price this year. South Korea has become a major exporter of military equipment, with exports totaling $17.9 billion in 2022. Notable weapons systems from South Korea include the K9 Thunder self-propelled howitzer, the K2 main battle tank, and the FA-50 light attack aircraft. Poland has placed orders for these systems, marking a new entrant into the European arms market. South Korea's defense industry is seeking to expand into other areas such as drones and unmanned vehicles.