In 2024, the South Korean defence industry's revenue amounted to KRW 26,774 billion, approximately EUR 16.1 billion. South Korea held three per cent of the global arms market in 2021-2025, marking a near 40-fold increase compared to 25 years ago. This remarkable expansion in arms exports is explained by South Korean security, economic, and international status interests. The North Korean threat has incentivised the ROK to prioritise the construction of a strong defence industry with a large production capacity. By continuously modernising the equipment of its Armed Forces in step with global technological developments towards high-tech warfare, South Korea has carved out a niche for high-value arms on the global market. Having developed a competitive edge in manufacturing, South Korea was well-positioned to benefit from the rising global demand over the past 15 years. Security developments since 2022 have provided it with a unique opportunity to further boost its arms exports. The Russian invasion of Ukraine has driven up demand in Europe, while unpredictable foreign policy developments in China, the US, and Israel encourage arms-importing states to consider diversifying their arms supply. Altogether, these factors have allowed South Korea to advance its market position, portraying K-defense as arms exports with no strings attached.