South Korea and NATO Push for Procurement Agreement, Laying Groundwork for Entry into a 15 Trillion Won Defense Market
- Input
- 2026-07-08 04:53:20
- Updated
- 2026-07-08 04:53:20
In a briefing on the first day of the NATO summit in Ankara, Turkey, Wi Sung-lac said that both sides announced the start of negotiations to conclude the Korea-NATO framework agreement on procurement during his meeting with the NATO Secretary General.
Wi explained that the agreement sets out the legal and administrative terms needed for logistics, defense industry cooperation, and procurement contracts between NATO and partner countries. He added that once signed, it would create an institutional basis for South Korean companies to take part in the NATO joint procurement market, which is estimated at 15 trillion won a year.
Earlier, President Lee also wrote on X that the Korea-NATO framework agreement on procurement would provide a strong foundation for South Korean defense companies to expand further into the NATO defense market. He said he hoped companies with world-class technology and competitiveness would be able to demonstrate their capabilities on a bigger stage.
A senior Blue House official said that while South Korean companies had so far pursued bilateral cooperation with individual countries, a procurement agreement with NATO as a whole would open wider channels for joint procurement and participation in defense cooperation systems across member states. On the timing of the agreement, the official said, "We will try to reach a deal as soon as possible."
The summit also expanded South Korea's participation in NATO multinational cooperation projects. In addition to existing ammunition and space-sector projects, the country will newly join a defense raw materials program. The Blue House said this would help strengthen interoperability between South Korean and NATO weapons systems and broaden the foundation for South Korean companies to enter the NATO defense market.
west@fnnews.com Seong Seok-woo Reporter