South Korea plans $6.5B fund for security tech firms

South Korea is rolling out a $6.5 billion fund to boost its security tech industry, aiming to nurture 50 advanced companies by 2030. This initiative seeks to accelerate defense procurement processes and bolster the nation's technological edge in security. Such a move underscores South Korea's commitment to becoming a global leader in defense tech, which is crucial as geopolitical tensions remain high in the region. This investment could also drive innovation, create jobs, and enhance the country's self-reliance in critical defense technologies.