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South Korea’s defense industry needs to send Putin a gift basket because the war he launched against Ukraine has led to strong growth in weapon sales to European nations:
Finland has decided to additionally introduce K9 self-propelled howitzers. Finland introduced 96 K9 self-propelled howitzers in 2017 and is expected to operate a total of 208 units by introducing an additional 112 units in this second phase.
The Defense Acquisition Program Administration announced on the 9th that it had signed a second export contract for K9 self-propelled howitzers worth 546 million euros (approximately 940 billion Korean won) with the Korea Trade-Investment Promotion Agency (KOTRA) and the Finnish Ministry of Defence in Helsinki, Finland. The Defense Acquisition Program Administration stated, “The additional contract was decided after the Finnish military tested the K9 self-propelled howitzer in actual operations for several years and confirmed its exceptional mobility and firepower even in harsh Nordic environments, such as extreme cold and heavy snow.” The second-phase contract volume is planned to be delivered in full by the early 2030s.
You can read more at the link.
If this toll through the Strait of Hormuz is allowed to stand it will set a precedent for other global strategic waterways. What is to stop the Houthis to next charge a toll to pass through the Red Sea? Malaysia and Indonesia could charge tolls to use the Strait of Malacca as well if this is the new precedent. The U.S. has long advocated for freedom of navigation and the Hormuz toll is a direct assault on this concept:
Iran has announced plans to impose tolls on vessels passing through the Strait of Hormuz after a ceasefire with the U.S., and the South Korean government has analyzed that this measure, if implemented, could raise domestic oil prices by approximately 0.5%. Yang Gi-wook, Director of the Industrial Resources Security Office at the Ministry of Trade, Industry and Resources, stated during a briefing by the “Middle East War Response Headquarters” on the 9th, “If tolls are added to the current international oil price level of $90–100 per barrel, a rise of about 1% could occur. Considering that roughly half of domestic gasoline prices consist of taxes, the final consumer price is expected to increase by approximately 0.5%.” However, he added, “It is difficult to specify a response strategy as both the imposition of tolls and their method remain uncertain.”
You can read more at the link.
President Lee did not offer any ideas, but is he going to get fully behind nuclear to reduce dependency on oil?:
President Lee Jae Myung said Thursday it is time for the nation to fundamentally change its economic system, as rising oil prices and inflationary pressures from the war in the Middle East have dampened prospects of an economic recovery.
However, Lee urged officials to embrace such grave economic conditions as an opportunity to improve the nation’s economic system as he presided over his first plenary meeting of the National Economic Advisory Council (NEAC) to discuss measures to cushion the Middle East conflict’s impact on the economy.
“The war in the Middle East poses a significant threat to our economy in the short term, and in the long term, it is now time to make fundamental changes in South Korea’s economic system,” Lee said. “It is a crisis but also an opportunity.”
You can read more at the link.
This footage shows the escaped wolf roaming the streets. (Yonhap)
South Korea is definitely in a tough spot and how they maneuver through it should be done in close coordination with Japan to create a more united front with another key U.S. ally:
Victor Cha
U.S. President Donald Trump could hit back at Korea by imposing more tariffs if Seoul secures an exemption from Iran for its ships’ transit through the Strait of Hormuz, a U.S. expert said Wednesday.
Victor Cha, Korea chair at the Center for Strategic and International Studies (CSIS), made the remarks at a forum, noting that Seoul is faced with having to make the “least bad choice” among difficult options regarding its vessels stranded in shipping routes effectively blocked by Tehran.
Cha noted that Seoul engaging with Tehran to get its vessels through the waterway would be one of the less favorable options, a move that could “risk upsetting” Trump.
You can read more at the link.
Since Iran has been using cluster bomb munitions it looks like North Korea wanted to show the world they have them too:
North Korea said Thursday that it has test-fired a tactical ballistic missile tipped with a cluster bomb warhead, claiming it can “reduce to ashes” any targeted areas with the highest-density power.
North Korea fired the surface-to-surface missile Hwasong-11Ka tipped with a cluster bomb warhead as part of its tests of “important” weapons systems that were conducted from Monday to Wednesday, according to the Korean Central News Agency (KCNA).
The test confirmed that the missile “can reduce to ashes any target covering an area of 6.5-7 hectares with the highest-density power,” the KCNA said.
You can read more at that link.
