KOIMA

Defense Business

National security issues have recently been raised in Korea as many repair parts necessary for the maintenance of national defense equipment were found practically impossible to be procured due to various restraints. In consequence, the Korean Ministry of Defense and DAPA have started to prepare some supplementary measures to overcome such difficult situations. As a part of them, the MOU(virtual contract) between KOIMA and DAPA has been finally signed on July 13th, 2011 for a smooth procurement of "No-Bidder" items which come mainly from obsole scence and manufacturer's refusal to make a contract with DAPA's strict and non-negotiable terms. It was possible as KOIMA has rich experiences in international trade and a broad domestic and overseas network built over a long period of time. The MOU is not for the purpose of raising KOIMA's profits related to commercial transactions but to solve the Korean national security problems. And based on this business, KOIMA is expanding the scope of defense business even further through keeping a close cooperation with related organizations and companies. This will eventually enhance the available rate of defense equipment and reduce the defense budget.