SOUTH KOREA’S DAPA SEEKS ‘OFFSET RESET,’ APPROVES PRE-OFFSET CREDITS AND ABANDONS “OFFSETS FOR FREE”

South Korea’s Defence Acquisition Programme Administration (DAPA) is “resetting” its offset policy. A plan circulated to obligors explains that the country will now recognise that offsets have a cost. In response to the negative image associated locally with offset price increases DAPA will instead refer to “defence industrial cooperation.” A nine-month...

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