A TECHNOLOGY VALUATION MODEL FOR THE DEFENSE R&D WITH INCOME APPROACH

Korea government initiated the Government's Defense Industrial Policy, "Defense Industry as a New Growth Engine for the Creative Economy", followed by establishing the defense industrial policy objectives and making efforts to reach them. Accordingly, the defense export dragged attention from the defense industry sector and as a result recorded nearly 0.8 billion dollars in 2011 which is doubled amount compared to year 2008. Considering that defense technology valuation is inevitable in defense trade, the defense technology valuation is going to be a key issue for the domestic defense R&D invested equipment including main battle tanks, armored vehicles, air trainers etc. This paper presents the defense R&D technology valuation model with the in-depth analysis of its theories and current status both domestic and abroad. Also, it provides relevant policy issues and directions in the near future. It should contribute to boosting the defense technology valuation fields and to formulating a concrete tool for analyzing defense R&D technology valuation in the near future.