South Korean President launches NATO defence procurement talks, eyeing $15 trn market

During the NATO summit in Ankara, South Korea’s president met NATO Secretary‑General Jens Stoltenberg and announced the start of negotiations for a procurement basic agreement with the alliance. The deal aims to give Korean defence firms access to NATO’s joint procurement market, projected at around 15 trillion won ($11 bn) a year. The president also proposed a “Defence Partnership 2.0” to deepen cooperation through joint research, production, standardisation of weapon systems and supply‑chain integration, noting the importance of unified production standards for interoperability.

The president also held a brief meeting with the Canadian prime minister, discussing future AI collaboration and reaffirming the comprehensive strategic partnership between the two countries. South Korea will expand its observer role in NATO projects to include ammunition, space and now defence raw‑material programmes, enabling Korean companies to bid for items such as 155 mm artillery shells that already meet NATO standards.