S. Korea, Saudi Arabia agree to expand defense industry cooperation

▲ LIG Nex1 showcases its mid-range surface-to-air missile (M-SAM) system during World Defense Show, an international defense exhibition held in Riyadh, Saudi Arabia, in this photo provided by the Korean defense firm on Feb. 5, 2024. (PHOTO NOT FOR SALE) (Yonhap)

Saudi Arabia-defense industry

S. Korea, Saudi Arabia agree to expand defense industry cooperation

SEOUL, Feb. 5 (Yonhap) -- South Korea and Saudi Arabia have signed a memorandum of understanding (MOU) to pave the way for cooperation in the defense industry and joint weapons development, Seoul's arms procurement agency said Monday.

Defense Acquisition Program Administration (DAPA) Minister Eom Dong-hwan and Saudi Assistant Defense Minister Talal bin Abdullah Al-Otaibi signed the agreement in Riyadh as South Korean Defense Minister Shin Won-sik was on a visit to the Middle Eastern nation this week.

Under the MOU, the two sides will launch a bilateral committee to jointly conduct research and development of weapons systems for continued cooperation in the defense industry, DAPA said.

The signing took place as major South Korean defense firms, including Hanwha, LIG Nex1 and Hyundai Rotem, are displaying their latest weapons systems at the World Defense Show 2024, which opened in Riyadh on Sunday.

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