South Korea has found another customer for their growing defense industry:
During the talks held on the sidelines of the World Defense Show, the two sides discussed ways to strengthen bilateral cooperation in defense and the arms industry, the ministry said.
On the margins the defense exhibition, South Korea’s Defense Acquisition Program Administration (DAPA) and Saudi defense ministry signed a memorandum of understanding (MOU) to pave the way for cooperation in the defense industry and joint weapons development.
Under the MOU, the two sides will launch a bilateral committee to jointly conduct research and development of weapons systems for continued cooperation in the defense industry, DAPA said.
Yonhap via a reader tip
Besides this MOU the ROK also secured a deal to sell missile interceptors to Saudi Arabia as well:
South Korean defense firm LIG Nex1 has clinched a US$3.2 billion deal to export mid-range surface-air-to missiles (M-SAM II) to Saudi Arabia, Seoul’s defense ministry said Tuesday.
LIG Nex1 inked the contract with the Saudi defense ministry to sell Cheongung M-SAM II in November, the ministry said.
It marks LIG Nex1’s second overseas sales of Cheongung-II following a deal with the United Arab Emirates (UAE) in January 2022.
Yonhap
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