South Korea has taken a significant step in international defense collaboration by signing a framework agreement with Peru focused on the export of military vehicles. The deal entails the sale of K2 Black Panther main battle tanks and K808 White Tiger armored personnel carriers, marking a potential breakthrough for South Korea as it seeks to establish a foothold in the Latin American defense market.
Under the terms of the agreement, Peru plans to acquire a total of 195 military vehicles, which include 54 K2 tanks and 141 K808 personnel carriers. The collaboration will involve the South Korean defense manufacturer Hyundai Rotem and Peru’s state-owned Army Weapons and Ammunition Factory, facilitating local defense industry development alongside equipment procurement.
The signing ceremony in Lima was attended by Peruvian President José Jerà and Lee Yong-chul, chief of South Korea’s Defense Acquisition Program Administration. While officials did not disclose the contract’s financial details, South Korean media estimates suggest the deal could exceed 2 trillion won, equivalent to approximately $1.3 billion. Contract implementation is anticipated to be finalized in the following year.
South Korean President Lee Jae-myung expressed his enthusiasm regarding the agreement, highlighting its significance in enhancing Peru’s military capabilities and promoting local defense production. He articulated his expectation that this partnership would create opportunities to strengthen defense and arms industry cooperation between the two nations.
This agreement comes on the heels of a notable acquisition by Poland, which procured K2 tanks for $6.7 billion to bolster its land defenses amid ongoing regional tensions involving Ukraine and Russia. Poland’s commitment demonstrates the growing interest in South Korean military technology among NATO members, further expanding South Korea’s presence in global defense markets.
South Korea, currently the 10th largest weapons exporter, is strategically working toward climbing the ranks to become the 4th largest by 2027. This ambition signifies the country’s desire to broaden its export horizons and enhance its stature among global defense suppliers, moving beyond traditional markets in Europe and tapping into emerging markets in Latin America and beyond.
