Shares of South Korean defense firms plunge amid earnings and order concerns
Top four firms’ combined market value falls to about 62 trillion won from a 170 trillion won 52-week peak
South Korea’s defense stocks, which rode a wave of global rearmament following Russia’s invasion of Ukraine, have seen a sharp sell-off this year as investors weigh disappointing earnings, a stronger won, delayed export orders and evolving procurement priorities amid the proliferation of drones and counter-drone systems.