As North casts cloud over the peninsula, South Korea's weapons makers tap into a silver lining

SEOUL – The constant missile and nuclear threats from South Korea's belligerent northern neighbor have racked regional tensions sky-high, but they are a boon for the country's burgeoning defense industry. South Korea has been one of the world's largest importers of military equipment and technology for decades -- mostly from the U.S. -- but in recent years its domestic sector has grown rapidly. Arms exports have soared tenfold in a decade, from just $253 million in 2006 to $2.5 billion last year, according to government data. The country's missiles, howitzers, submarines and warplanes are especially popular in Southeast Asia, Eastern Europe and South America. Once a largely agricultural backwater devastated by war, South Korea now has companies that have become world leaders in fields ranging from shipbuilding to smartphones, and its arms manufacturers are starting to follow suit.