This research report from Daishin Securities analyzes the global outlook for the South Korean defense industry, focusing on export opportunities. It examines key geopolitical factors influencing demand, including the Russo-Ukrainian war and the Israel-Hamas conflict, and assesses the potential for South Korean companies like LIG Nex1 and Korea Aerospace Industries to capitalize on increased global military spending. The report profiles several key markets, including Southeast Asia and South America, highlighting their unique defense needs and the competitive landscape. Finally, it offers investment recommendations for specific South Korean defense companies based on their growth prospects.