The Agency for Defense Development has developed 303 weapons systems over the past 55 years that have generated a combined economic impact of KRW 697 trillion. Shown is the K9 Thunder, a domestically developed self-propelled howitzer. (Hanwha Group's official website) 

By Margareth Theresia

The Agency for Defense Development (ADD) says the 303 weapons systems it has developed over the past 55 years have produced an economic generating effect of KRW 697 trillion.

The ADD on Aug. 18 said this in a report on the effects of its research and development (R&D) investment throughout its history to mark its 55th anniversary.

Since its launch in 1970, the agency has developed 303 weapons systems, 146 of which have been operationally deployed. Such systems, it said, have helped raise the military's capabilities and played a key role in elevating the science and technology level of the defense industry to the world's top eight.

The report said the ADD's investment of KRW 65 trillion in defense R&D over the past 55 years produced KRW 697 trillion in combined economic impact from budget savings, military power reinforcement, social cost cuts and technical ripple effects. The savings in lifecycle costs for weapons systems alone was estimated at KRW 575 trillion.

Investment of KRW 1 billion in defense R&D was estimated to create an average of 6.29 jobs directly and indirectly, with a combined 380,000 jobs produced including in related industries.

Since 2008, the ADD has exported KRW 60 trillion worth of weapons systems to 23 countries and helped the R&D of 32 items for 15 defense companies. The Cheongung-II mid-range surface-to-air missile system ranked first and the K9 self-propelled howitzer second in export volume, with both weapons being benchmarks in the domestic defense industry.

The report is available on the ADD's official website (www.add.re.kr).

margareth@korea.kr