Republic of Korea T-50s in formation

Republic of Korea T-50s in formation

The Republic of Korea may have ended 2012 short of their defense export goals, but they’re off to a good start to 2013. Bloomberg has more on the ROK’s first successes of the new year:

The Philippines is close to reaching an 18 billion peso ($443 million) deal to purchase 12 fighter jets from South Korea as it moves to bolster its defenses amid tensions with China over disputed territory.
Defense Assistant Secretary Patrick Velez today said the government intends to finalize a contract with Korea Aerospace Industries Ltd. (047810) by the end of February and two could be delivered in the next six months. The Philippines hasn’t had an operating fighter jet since 2005 (Source: Bloomberg).

The fighter jet sale may also create further defense exports from the ROK to the Philippines:

The jets will be used for training, disaster response and fending off enemy forces, Lacierda said. The Philippines may also seek bids for the supply of an unspecified number of naval warships by April, Velez said (Source: See Above).

The Philippines also remains intent on acquiring Japan Coast Guard vessels over the next few years for use in the Philippine Navy, a move that would potentially double Philippine naval power while allowing Japan to continue stretching its ever-growing arms export aspirations.

China’s rising power is becoming a boon for its East Asian neighbors.

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Craig was born & raised in the United States, having recently returned there after over five years in Asia. He is currently pursuing further education in the realms of East Asian Studies and Politics. Craig is an avid fan of the political, economic, and military machinations occurring throughout the Asian continent and how those turning gears affect the rest of the world. He's currently covering both North and South Korea for Asia Security Watch, enjoying shedding light on to this far-too-often ignored slice of Asia.
Craig Scanlan has 88 post(s) on New Pacific Institute