12.03.2026 08:41
It was reported that the UAE, which received the Cheongung-II air defense missiles, noted for their high success rate against Iranian attacks, delivered under the "urgent" code, provided South Korea with 6 million barrels of crude oil.
It is stated that the ongoing war between Iran, the USA, and Israel has increased the demand for air defense systems, while the South Korean-made Cheongung-II missile defense system has drawn attention with its performance in the war. It has been reported that the United Arab Emirates (UAE) requested an urgent shipment for the system.
According to news in the South Korean press, a Boeing C-17 Globemaster III transport aircraft belonging to the United Arab Emirates Air Force landed at Daegu International Airport in March 2026. According to a report by Chosun newspaper, the aircraft came to South Korea to transport Cheongung-II air defense missiles produced in the Gumi industrial area near Daegu.
96% SUCCESS RATE AGAINST MISSILES
The system, also referred to as "Korea's Patriot," is claimed to have a 96% success rate in intercepting Iran's missile attacks. Following this performance, it was reported that the UAE requested an urgent shipment to receive the missiles earlier than planned.
60 MISSILES FIRED
Yu Yong-weon, a member of the South Korean National Assembly Defense Committee and a lawmaker from the People Power Party, stated that two Cheongung-II batteries stationed in the UAE fired approximately 60 missiles and achieved a 96% success rate. This indicates that the system was used for the first time in a real combat environment and that a South Korean-made guided weapon successfully intercepted enemy missiles in battle for the first time.
DEFENSE COMPANIES RISE IN THE STOCK MARKET
Shares of LIG Nex1, one of the producers of the Cheongung-II system, also rose following the developments. The company's share price increased by approximately 47% compared to the end of February before the start of the Iran war. This increase was stated to create a contrasting picture against the general downward trend observed in the South Korean stock market during the same period.
"ONE OF THE WINNERS OF THE WAR IS SOUTH KOREA"
Financial Times wrote that one of the winners of the war waged by the USA and Israel against Iran is South Korean missile defense companies. According to the newspaper, as the demand for more affordable air defense systems rapidly increases, this has also heightened interest in South Korea's growing defense industry.
FT also highlighted the cost advantage of Cheongung-II. While the unit cost of Patriot missiles produced by Lockheed Martin is approximately $3.7 million, the cost of Cheongung-II missiles is around $1.1 million.
ALLEGATION OF OIL DEAL
According to Chosun newspaper, it was claimed that the UAE provided 6 million barrels of crude oil to South Korea to receive the missiles earlier, and that there is a defense cooperation behind this shipment.