KODITS is a pan-governmental organization established under the participation of the Ministry of Trade, Industry and Energy, the Ministry of National Defense, the Defense Acquisition Program Administration, the Korea Trade & Investment Promotion Agency and the Korea Trade Insurance Corporation on October 15, 2009 to provide comprehensive support for defense exporters.
The defense industry's growth benefits both the nation's security and economy. It enhances the nation's independent defense capability and contributes to the nation's industrial development and creation of jobs. As such, the industry carries great national importance, and in recent days the industry is experiencing a paradigm change as the focus has shifted from the domestic market to overseas exports.
However, competition in the global defense market is intensifying as China, Japan and other nations are entering the export market. Also, purchasing countries are requesting industrial resource cooperation and making various other demands as a condition for signing a purchase agreement.
Despite such difficulties, KODITS has provided pan-governmental support to the defense industry, such as assuming the status of contracting party in GtoG deals, providing financing solutions to purchasing countries, supporting the preparation of package deal negotiations on industrial resources, assisting offset trade and participating in export marketing activities. As such, KODITS has played various roles to support the nation's defense industry through expansion of defense exports.
To support Korean defense businesses' global market expansion and to enhance the industry's global competitiveness, KODITS will continue its efforts to become a more efficient and professional one-stop defense export support body.
Going forward, we will continue to be a reliable supporter and partner for Korean defense exporters. We ask for your continued interest and support.
Chief Officer, KODITS