SEOUL, May 13 (Korea Bizwire) — The chief of the state arms procurement agency has held talks with Malaysia’s defense minister on ways to expand arms industry cooperation, his office said Monday, amid Seoul’s drive to clinch more defense deals with Southeast Asian countries. Seok Jong-gun, minister of the Defense Acquisition Program Administration (DAPA), met [...]
SEOUL, May 8 (Korea Bizwire) — South Korea’s state procurement agency on Wednesday hinted at accepting Indonesia’s proposal to reduce its cost sharing for the KF-21 fighter jet program under the condition of providing fewer technology transfers, a move that would increase the financial burden on Seoul. The Defense Acquisition Program Administration (DAPA) said Indonesia [...]
SEOUL, May 7 (Korea Bizwire) — South Korea has been deliberating on Indonesia’s proposal to reduce its payment for a joint development project for the KF-21 fighter jet, the state procurement agency said Tuesday, amid an ongoing probe into an alleged technology leak by Indonesian engineers. Indonesia has reportedly suggested paying only 600 billion won [...]
SEOUL, May 7 (Korea Bizwire) – Indonesia, which had agreed to share a portion of the development costs and receive technology transfers for South Korea’s KF-21 fighter jet, has recently proposed paying only about a third of its originally committed share while also accepting a reduced level of technology transfer, according to sources familiar with the [...]
SEOUL, May 3 (Korea Bizwire) – The Peruvian Army has chosen South Korea’s K808 White Tiger as the new wheeled armored vehicle to enhance its military capabilities. On May 1, the Peruvian Army’s weapons and munitions provider (FAME) announced that it had selected the South Korean companies Hyundai Rotem (supplier) and STX (contractor) as the priority [...]
SEOUL, May 3 (Korea Bizwire) — Members of K-pop juggernaut BTS carrying out their mandatory military service has sent a “positive signal” for men to faithfully fulfill their service, the head of the military manpower agency said, raising the possibility of abolishing exemptions given to top athletes and musicians. Lee Ki-sik, commissioner of the Military [...]
SEOUL, May 2 (Korea Bizwire) — South Korean defense firm Hyundai Rotem has been selected as a preferred bidder to export 30 K-808 White Tiger wheeled armored vehicles to Peru, the company said Thursday. STX Engine will serve as the main contractor for the deal, while Hyundai Rotem will supply the vehicles to the Peruvian [...]
SEOUL, Apr. 30 (Korea Bizwire) — South Korea will impose a travel ban on Haiti next month due to increasing safety concerns as gang violence is escalating in the Caribbean nation, the foreign ministry has said. The Level 4 travel advisory, the highest of the four-scale system, will go into effect Wednesday, and it will [...]
SEOUL, Apr. 29 (Korea bizwire) — Hanwha Systems Co., a defense electronics and ICT solutions unit under Hanwha Group, said Monday it will hold a groundbreaking ceremony for a new space center on South Korea’s southern island of Jeju. The Jeju Hanwha Space Center, set to be built at Hawon Techno Campus in southern Jeju, [...]
SEOUL, Apr. 23 (Korea Bizwire) — South Korean defense firm Hanwha Aerospace Co. is expected to export an additional batch of Chunmoo multiple launch rocket systems (MLRS) to Poland, a deal estimated at around 2.2 trillion won (US$1.6 billion), multiple sources said Tuesday. A Polish delegation, led by Deputy Defense Minister Pawel Bejda, plans to [...]