South korea doubles down on defense exports, targeting $20 billion in latin america
Seoul is aggressively pursuing Latin American markets, leveraging a record $15.4 billion in defense exports last year and setting an ambitious $20 billion target by 2026.
A strategic pivot: korea’s expanding military footprint
The Feria Internacional del Aire y del Espacio in Santiago, Chile, served as the staging ground for this push, showcasing a dramatically expanded Korean pavilion – 31 companies spread across ground, naval, air, and security sectors. Attendance projections top 120,000, a significant indicator of growing interest.
While past deals with nations like Poland and the UAE fueled a 2022 surge, driven by a relatively limited number of purchasers – just seven – 2025 witnessed a crucial diversification. Now, Korea’s defense technology is finding a foothold in 16 countries, including key emerging markets like Peru and Colombia. This isn’t merely about volume; it’s about establishing a resilient, multi-faceted export strategy.
Key acquisitions and collaborative agreements
The evidence is tangible. Peru has already secured K2 main battle tanks and K808 wheeled armored vehicles, alongside collaborative agreements for joint naval construction and submarine design. Colombia’s procurement includes anti-ship missiles and missile launch systems. Even Chile has formalized a bilateral defense agreement with Korea, followed by government-to-government contracts for light tactical vehicles. These aren’t just sales; they’re strategic dependencies being cultivated.
Beyond the pavilion: a focused approach
But the activity extends beyond the exhibition floor. KODITS, in conjunction with Korean diplomatic missions and KOTRA’s Latin America headquarters, convened a Latin America Defense Export Council. The challenges are clear: localization requirements, navigating the complexities of Spanish-language procurement procedures, and the frequent turnover of government officials. Yet, the commitment is evident, underscored by ‘Korea Defense Day 2026,’ a dedicated event fostering partnerships between Chilean and Latin American military and industry leaders.
“Korea is regarded as the ideal partner for countries seeking to diversify their defense suppliers,” stated Jang Sung-gil, head of KODITS. “We will work closely as a public-private team to expand defense export outcomes.” This isn't a gamble; it’s a calculated investment – a deliberate repositioning of Korea as a key player in the global defense landscape. And it’s being executed with a precision that suggests this isn’t a fleeting trend, but a fundamental shift.