SOUTH Korea are making billions of pounds from Pyongyang’s threats of nuclear war with the US, a report from the Stockholm International Peace Research Institute (SIPRI) has revealed.
Arms-producing companies from the Asian country made a combined sales total of £6.5billion in 2016 according to the international research body.
The report, which listed the world “top 100” military services, highlighted that last year’s total represented a 20.6 per cent rise in sales compared to 2015.
SIPRI Senior Researcher Pieter Wezeman said: “The increasing nuclear weapons capability in North Korea has led to major investments in South Korea.”
He said the increase in sales indicates the South are looking to capitalise on the war rhetoric of their neighbour.
Mr Wezeman said Seoul was turning “to its own arms industry to supply its demand for weapons” and “aiming to realise its goal of becoming a major arms exporter”.
North Korea has tested a number of ballistic missiles in recent months as the hermit state looks to expand its nuclear capabilities.
The missile tests have caused tensions with South Korea as the rogue nation threatens to take military action against them and the US.
The rhetoric of war between US President Trump and Kim Jong-un has increased over during the tests with fears that a war could break out between the pair.
Fears of war between the two countries hit a new high last week after the rogue state announced they had successfully tested a missile capable of targeting any part of the US equipped with a nuclear weapon.
According to South Korea’s military, the latest missile flew some 596 miles (960km) to an altitude of around 2,796 miles (4,500km).
The North wants to see themselves one day reunited with the South who they have technically been at war with since the 1950s.
The break out of a war with the US would likely also see an attempted land grab from their neighbour.
Donald Trump has previously hinted that he is willing to use military methods to solve the North Korean nuclear problem.
However, the increased tensions have been exploited by South Korea as a way to expand their own standing on the world stage.
Mr Wezeman added Seoul is “increasingly using weapons and technology that can compete with what has been supplied by Europe and the US.”
The nation is the top arms producer among those countries considered to be “emerging”, beating the likes of Brazil, India, and Turkey.