The nation's share of the global defense market last year reached 2.1%. Shown is a tank with the domestically developed K9 Thunder, a self-propelled howitzer, to be exported to Romania for KRW 1.3 trillion. (Hanwha Aerospace's official Facebook page)

By Charles Audouin

The nation's share of the global market for the defense industry has quadrupled over the past 15 years.

The Sweden-based Stockholm International Peace Research Institute said in early November that Korea's global ranking jumped from 19th in 2008 with 0.5% to 10th last year with 2.1%.

Experts say the expansion of the domestic defense industry's exports is due to three factors: outstanding performance of homegrown weapons, ability to delivery on time, and government support and guarantees.

With its first export coming in 1972, the sector through last year supplied such items to 36 countries.

The institute said the nation's top markets for weapons from 2008 to last year were Indonesia with 17%, Turkiye (Turkey) 14% and Poland 12%.

caudouin@korea.kr