S Korea, Poland sign $5.8 billion tank, howitzer contract

SEOUL: Two South Korean companies have signed a $5.76 billion contract with Poland to export tanks and howitzers, Seoul’s arms procurement agency said on Saturday, after Warsaw agreed to ramp up arms imports amid tensions with Russia.

The contract, signed in Poland on Friday, is part of South Korea’s biggest ever arms deal, clinched last month with Poland, which has been seeking to beef up its military in the face of Russia’s invasion of neighbouring Ukraine. Hyundai Rotem Co. will ship K2 Black Panther tanks, and Hanwha Defence, the defence unit of Hanwha Corp, will send K9 self-propelled howitzers to Poland, said the Defence Acquisition Programme Administration (DAPA).

The parties have not announced the value of the entire deal, which South Korean media estimated at up to 20 trillion won ($15 billion).

"As defence exports are extremely important in terms of sharing weapon systems, mutual logistics support and strengthening security alliances.