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December 28, 2021

South Korean Navy to receive refurbished KDX-I destroyer Eulji Mundeok

The upgrade of the 3,200t destroyer was carried out at Jinhae Naval Base in Gyeongnam.

South Korean arms procurement agency Defense Acquisition Program Administration (DAPA) has announced that the South Korean Navy will receive an upgraded Korean destroyer (KDX-I), Eulji Mundeok (DDG 972).

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What is driving and impacting South Korea’s Defense Market?

South Korea’s defense budget is currently valued at $48.3 billion after experiencing impressive and robust annual growth of 10.5% in 2022. Over the forecast period, South Korean defense expenditure is anticipated to register a strong CAGR of 6.3% over 2023-27 and reach $66.2 billion by 2027. The country’s acquisition budget, which includes research and development (R&D) funding, is also anticipated to register significant growth, projected to reach $21.6 billion in 2027, seeing significant rise from the anticipated $17 billion in 2023. South Korean defense spending is continuing to be fueled by the country’s hostile relationship with North Korea, coupled with the need to develop its own domestic industry. If you want to strategize successfully off this growing market, it is important to be fully informed. This report’s key findings include:
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The refurbishment of the 3,200t destroyer, which started earlier this year, was carried out at Jinhae Naval Base in Gyeongnam.

According to the state arms procurement agency, the project focused on enhancing the anti-submarine and other capabilities of the destroyer.

The KDX-I performance improvement project involves enhancement of the destroyer’s aging combat systems and sensors.

After the upgrade, the destroyer now features a domestic combat system for better combat command abilities.

Furthermore, the destroyer has been equipped with the Towed Array Sonar System for improved detection and tracking performance of the underwater target.

Eulji Mundeok is the third and the final vessel to undergo modernisation under the performance improvement project of the KDX-I, which was introduced in September 2016.

The performance improvement project is aimed at enhancing and replacing the KDX-I’s ageing combat systems and sensors.

DAPA official Geuk-cheol Bang said: “By delivering the last ship of the KDX-I performance improvement project, the Eulji Mundeok, to the Navy, we have successfully carried out the first performance improvement project of the Navy’s surface ships.

“Based on our experience in the KDX-I performance improvement project, we will do our best to enhance the navy’s power by carrying out future performance improvement projects such as the Dokdo ship performance improvement project without any setbacks.”

The South Korean Navy received the first and second destroyers, Yang Manchun and Gwanggaeto the Great, in September last year and October this year, respectively.

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Free Report
img

What is driving and impacting South Korea’s Defense Market?

South Korea’s defense budget is currently valued at $48.3 billion after experiencing impressive and robust annual growth of 10.5% in 2022. Over the forecast period, South Korean defense expenditure is anticipated to register a strong CAGR of 6.3% over 2023-27 and reach $66.2 billion by 2027. The country’s acquisition budget, which includes research and development (R&D) funding, is also anticipated to register significant growth, projected to reach $21.6 billion in 2027, seeing significant rise from the anticipated $17 billion in 2023. South Korean defense spending is continuing to be fueled by the country’s hostile relationship with North Korea, coupled with the need to develop its own domestic industry. If you want to strategize successfully off this growing market, it is important to be fully informed. This report’s key findings include:
  • Details on the defense budget
  • Drivers of defense spending
  • Key trends impacting the market
Download the full report so you can formulate winning strategies for the road ahead.
by GD50 ADS
Enter your details here to receive your free Report.

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