Lima: South Korea has successfully signed a framework agreement to export K2 battle tanks to Peru, as part of Seoul's strategy to expand its arms exports to new markets. Under the agreement between Hyundai Rotem Co. and the Peruvian Army, the South Korean company is set to supply 54 K2 tanks and 141 K808 wheeled armored vehicles to Peru by next year.
According to Yonhap News Agency, the agreement was formalized during a ceremony in Lima attended by the chief of South Korea's arms procurement agency and Peru's president and defense chief. The deal includes not only the supply of tanks and vehicles but also plans for training and ongoing support. Although the exact financial details were not disclosed, the agreement is estimated to be worth over 2 trillion won (approximately US$1.4 billion), potentially marking South Korea's largest export of ground equipment to Latin America.
Hyundai Rotem confirmed in a regulatory filing that the framework agreement had been signed, indicating that the specifics of the contract, such as its full scope, will be finalized in a subsequent agreement. This development is part of South Korea's broader initiative to penetrate the Latin American market and boost its arms export portfolio.
In the past, Hyundai Rotem and STX Corp. secured a $60 million contract with the Peruvian Army to provide 30 K808 armored vehicles. Later, Hyundai Rotem signed a comprehensive cooperation agreement focused on exporting ground weapons to Peru, including the K2 tanks and wheeled armored vehicles.
The K2 tank, in service with the South Korean Army since 2014, is a critical component of the country's military exports, alongside the K9 self-propelled howitzer. Earlier this year, Hyundai Rotem also agreed to supply a second batch of K2 tanks to Poland, following an initial contract signed in 2022.