Presidential Office: "NATO Procurement Agreement to Open Access to 15 Trillion Won Annual Market... $100 Million Support Pledged for Ukraine"

National Security Advisor Wi Seongrak Briefs on July 7

Negotiations Begin on "Korea-NATO Basic Procurement Agreement"

"No Lethal Weapons Included in Support for Ukraine"

An opportunity has opened up for access to the European defense industry market, which is worth 15 trillion won per year. This comes as President Lee Jaemyung’s attendance at the North Atlantic Treaty Organization (NATO) summit sets the stage for negotiations on the "Korea-NATO Basic Procurement Agreement."

On July 7 (local time), President Lee met with NATO Secretary General Mark Rutte in Ankara, Türkiye, where the NATO summit is being held, and made this announcement. Immediately after the meeting, President Lee stated on X (formerly Twitter), "(The Basic Procurement Agreement) will serve as a strong foundation for our defense industry companies to expand more broadly into the NATO defense market."

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The Basic Procurement Agreement is a treaty that covers the legal and administrative matters necessary for logistics, defense industry, cooperation, and procurement contracts between NATO and its partner countries. With just one agreement in place, it becomes possible to access the joint procurement market of all NATO member states. In a local briefing, National Security Advisor Wi Seongrak explained, "Once the agreement is signed, our companies will have an institutional basis to participate in the NATO joint procurement market, which is expected to be worth 15 trillion won annually."

In addition, South Korea has been allowed to participate as an observer in the defense and raw materials projects of multinational cooperation initiatives, where NATO allies jointly develop equipment and material capabilities. Participation in multinational cooperation projects began last year at the Hague summit; until now, South Korea had only participated as an observer in munitions and space projects. Advisor Wi stated, "This expansion into new fields comes just one year later," adding, "It will strengthen the interoperability of weapon systems between Korea and NATO, broaden the market base, and contribute to establishing stable conditions for the procurement of military supplies."

Furthermore, the South Korean government pledged comprehensive support worth 100 million dollars to Ukraine on the occasion of the NATO summit. Advisor Wi emphasized, "We have demonstrated our commitment to contributing to international peace and security through concrete action," and added, "So that the devastating war can end as soon as possible and peaceful daily life can be restored, Korea will continue to join the international community in its efforts as a responsible global nation." However, a senior official from the presidential office clarified, "Our position on support for Ukraine remains unchanged," adding, "We do not provide lethal weapons and are preparing support in various other areas."

Meanwhile, on July 8, the second day of the NATO summit, President Lee is scheduled to hold bilateral meetings with the leaders of major member states, including Norway, the Netherlands, and Romania.

This content was produced with the assistance of AI translation services.