SEOUL -- A top South Korean ammunition maker is increasing supplies to Europe, analysts say, as countries on the continent, particularly Poland, deplete their reserves in support of Ukraine's efforts to fight invading Russian forces.
Poongsan, a Seoul-based metal and ammunition manufacturer, said earlier this month that its defense exports jumped 66.9% to 147.5 billion won ($111 million) in the first quarter from a year earlier. The company's operating profit, meanwhile, jumped 19.5% to 58.9 billion won.
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