South Korea’s defense makers Hyundai Rotem Co. and Hanwha Defense signed formal contracts worth $5.8 billion to export battle tanks and self-propelled howitzers to Poland.
The Defense Acquisition Program Administration said Hyundai and Hanwha on Friday inked their first implementation agreements to ship the K2 Black Panther, a next-generation main battle tank and the K9 self-propelled howitzer, with a Polish military authority at a mechanized unit in the European country.
The DAPA has yet to unveil details such as the value of the deals. But South Korea’s defense industry speculated Hyundai may sell 180 units of the K2 Black Panther in a $3.4 billion contract and Hanwha may supply 212 units of the K9 in a $2.4 billion deal.
Hyundai and Hanwha plan to sign additional contracts step by step for more supplies. For the second implementation deals under negotiation, the K2 tanks and the K9 self-propelled howitzers are likely to be produced in Poland, according to industry sources in Seoul. The K9 self-propelled howitzer performs in a drill (Courtesy of Yonhap) Poland is predicted to sign a formal contract to import the FA-50 aircraft within this year.
“We expect implement contracts for the FA-50 to be smoothly signed by September,” said DAPA Minister Eom Donghwan.
With the Poland contracts, South Korea is set to become the world’s fifth-largest defense exporter. The Asian country’s defense exports topped $7 billion last year after reporting a mere $2 billion to $3 billion annually until 2020.
