SEOUL, July 3 (Korea Bizwire) — President Lee Jae Myung on Thursday praised Seoul’s recently completed defense export deal with Poland involving South Korean-produced K2 tanks, calling it a “splendid feat” for the Korean defense sector. Lee’s remarks came a day after the Defense Acquisition Program Administration (DAPA) announced that it had secured the second [...]
SEOUL, July 2 (Korea Bizwire) — South Korea and Poland have completed talks over the export of additional K2 tanks to the European nation, the South’s state arms procurement agency said Wednesday, in what would be the first major arms contract signed under the new government when signed. Polish Defense Minister Wladyslaw Kosiniak-Kamysz and Hyundai [...]
SEOUL, Oct. 28 (Korea Bizwire) – South Korea’s defense authorities approved on Monday a plan to build K2 battle tanks with a homegrown transmission system, the state arms procurement agency said. Under the plan endorsed by the Defense Project Promotion Committee, K2 tanks will be equipped with a locally developed power pack, which comprises the [...]
SEOUL, Nov. 10 (Korea Bizwire) – Five major commercial banks have been considering issuing a syndicated loan to help finance South Korean companies’ arms export to Poland, an industry source said Friday. Last year, South Korean companies secured major deals worth 17 trillion won (US$12.9 billion) to supply K2 tanks, K9 self-propelled howitzers, FA-50 light [...]