Korean defense companies are seeking market access in Europe, but recently lost a major submarine contract to a German competitor.

The entities involved

• Korea →

  region in East Asia

  • Korea is leading a major initiative to develop the foundation for 6G by leveraging AI RAN technology, with Samsung Electronics and SK Telecom playing principal vendor roles.Mon 17:37
  • Jamaica and Korea competed in the WorldSkills Competition.Mon 16:25
• Europe →

  terrestrial continent located in north-western Eurasia

  • The European Commission aims to strengthen homegrown AI capabilities while global advanced models face usage restrictions.Mon 17:49
  • The European Central Bank is forced to raise interest rates due to energy price shocks from the Iran war and an influx of Chinese exports.Mon 17:49

Related events

• The Korea Trade-Investment Promotion Agency is seeking defense industry cooperation and strategic partnerships to help firms gain access to the US market.Jun 24
• Defense Acquisition Program Administration is seeking to expand naval cooperation with the U.S.Sep 10
• Hanwha Ocean is a front-runner for a Canadian submarine program, prompting Canada to seek industrial partnerships with South Korean firms.Jun 11
• Strategic dialogue is underway between Korea, North Korea, and Europe regarding deepening military ties and security issues concerning the Korean Peninsula.Aug 29
• Companies are competing for defense market share as Europe grapples with the value of a sovereign defense industry, driven by war experience.Jun 16