President Yoon Suk Yeol speaks during a defense export strategy meeting at Hanwha Aerospace in Seongnam, Gyeonggi Province, Thursday. Joint Press Corps

President Yoon Suk Yeol pledged, Thursday, to enhance government support for the local defense industry, as Korea aims to become the world's fourth-largest arms exporter by 2027.

"The defense industry is a strategic sector that underpins our security and economy. And it is closely linked to other industries such as nuclear power, construction and semiconductors, thereby contributing significantly to the country's economic development," Yoon said during a defense export strategy meeting at Hanwha Aerospace in Seongnam, Gyeonggi Province.

Stressing that the defense sector will become the nation's future growth engine, the president pledged that the government will play a leading role in ensuring the sustainable expansion of the current growth trajectory of Korea's arms exports.

In this regard, Yoon said his upcoming visit to the Netherlands next week, which will focus on cooperation in the semiconductor field, will create new opportunities for the defense industry. The president is set to embark on a four-day visit to the European country next Monday at the invitation of Dutch King Willem-Alexander.

"Increased collaboration in the semiconductor field with the Netherlands, which has world-leading extreme ultraviolet (EUV) technology, will significantly contribute to strengthening our defense capabilities," he said.

Dutch company ASML is the only firm in the world that produces EUV exposure equipment, which is crucial for advanced semiconductor manufacturing.

During the meeting, the government unveiled its comprehensive arms export strategy to make Korea rank among the top four global defense powerhouses by 2027. The strategy focuses on nurturing five key fields: space, artificial intelligence (AI), manned and unmanned weapons systems, semiconductors and robotics.

"The swift development and application of advanced technologies such as AI, space, integrated manned and unmanned systems and robotics are crucial in gaining a competitive edge in the global defense market," Yoon said.

Thursday's meeting was attended by Defense Minister Shin Won-sik, Trade, Industry and Energy Minister Bang Moon-kyu, Defense Acquisition Program Administration (DAPA) Minister Eom Dong-hwan, key military officers, representatives from over 40 local defense industry companies, as well as defense industry employees.

It was the second such gathering to be held under Yoon's presidency since November last year at Korea Aerospace Industries' (KAI) headquarters in Sacheon, South Gyeongsang Province.

Driven by the war in Ukraine and other geopolitical conflicts, Korea has been seeing increasing demand for its weapons from European, Southeast Asian and Middle Eastern nations.

According to data from the defense ministry, the nation's arms sales in 2022 reached a record high of $17.3 billion, backed by a package of mega deals with Poland to supply K-2 tanks, K-9 self-propelled howitzers and FA-50 light combat aircraft and the Chunmoo, a self-propelled multiple launch rocket system.

Later in the day, Yoon met with a group of young employees in the defense industry at the office of defense company LIG Nex1, also in Seongnam, where he stressed the key role of the younger generation.

"I will spare no effort in supporting young workers in the defense industry to ensure that they feel a sense of fulfillment for contributing not only to national security, but also to the economy," he said.