“South Korea and the North Atlantic Treaty Organization (NATO) agreed [July 7th] to launch negotiations on a framework agreement on procurement, a move expected to pave the way for the Asian country’s entry into the transatlantic alliance’s defense procurement industry, a presidential official said.”
“The envisioned procurement agreement, if reached, would establish an institutional foundation for South Korean companies to access NATO’s joint defense procurement market, valued at around 15 trillion won (US$9.9 billion), according to [South Korean National Security Advisor] Wi.”
“NATO’s defense market is the world’s largest, he said.”