SEOUL, Aug. 4 (Korea Bizwire) — South Korea decided to acquire a new frigate with improved anti-aircraft and survival capabilities through domestic research and development, the arms procurement agency said Wednesday.
The defense project promotion committee held a videoconference and approved the plan for the 3.5 trillion won (US$3.1 billion) Ulsan-class Batch IV project, according to the Defense Acquisition Program Administration.
“The project is expected to enhance the military’s maritime operational capabilities, as well as contribute to securing up-to-date technologies and creating jobs,” the agency said in a release.
The total budget for the program, which will run from 2023-2032, is subject to review and confirmation following a feasibility study.
Hyundai Heavy Industries Co. is currently developing South Korea’s new 3,500-ton frigates under the Ulsan-class Batch III project that began in 2016.
During Wednesday’s meeting, the committee also decided to change the lead developer for the upgrade of light torpedoes from the state-run Agency for Defense Development to a local company.
The change is expected to help the local defense industry enhance its capabilities to conduct various research projects, the agency said.