Welcron Co., South Korea’s top player in the armor and protection industry, is gearing up to expand its production capabilities with the commencement of operations at its new dedicated facility just as the country is gaining global recognition in the field of defense.

“Due to Korea’s unique status as the only armistice state in the world, there has been increasing demand for armored products from various countries,” according to Lee Jae-ho, an executive at Welcron’s defense division.

“Last year, we received an urgent request from the Ukrainian government for 5,000 individual protective armored plates. Countries like Korea, which can immediately supply armored materials, are rare so we were Ukraine’s first choice.”

Armored plates are used to protect the interiors of armored vehicles, tanks, and other military equipment from mine explosions and gunfire. Welcron’s armored plates adhere to the NATO-standard STANAG 4569 specifications. Level 1 plates can withstand 5.56mm bullets, while Level 2 plates can protect against 7.62mm bullets. “We are currently capable of producing up to Level 4 plates, and the development of Level 5 and Level 6 plates will be completed in the second half of 2023,” Lee said.

Korea has a competitive edge in swiftly supplying armored and protective materials compared to advanced countries like Japan, Germany, and the United Kingdom.

“Welcron’s production system enables us to respond rapidly to orders, in turn setting Korea apart,” Kim said. “In the future, we will focus on making Welcron’s K-defense a primary industry, putting our defense headquarters in Gimhae at the forefront.”

Welcron’s international reach extends beyond Ukraine. The company supplies its armored clothing and armored plates to six countries, including Malaysia, the Philippines, Colombia, Australia, and Indonesia. It caters to both military and police forces and plans to expand its presence further, targeting the Middle East region after establishing a stronghold in Southeast Asia.

“Currently, our defense industry contributes to approximately 20 percent of our total revenue, but we have plans to significantly increase this share,” Lee said. He also outlined the company’s ambitious goals, saying, “By 2025, we aim to achieve annual revenues in the range of 40 to 50 billion won ($38 million), and we aspire to surpass the 100 billion won mark by 2030.”

According to market data, the global armor and protection market, encompassing armored clothing, armored plates, and related products, is projected to grow steadily. The market, valued at $12.6 billion in 2020, is expected to hit $24 billion by 2028.

By Kim Si-gyun and Minu Kim

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