Anna Jiwon Park has been covering the politics at The Korea Times since the summer of 2024, when she joined the press pool for the Office of the President in Korea. Prior to that, she spent about five years reporting extensively on financial markets, regulatory authorities and the financial industry. She joined The Korea Times in 2019 after spending eight years as a broadcast journalist at Arirang TV, Korea’s leading global broadcaster, covering politics, defense and culture.
Korea secures landmark Latin American deal to sell 195 combat vehicles to Peru
A K2 tank traverses a bridge as the Republic of Korea Army conducts a river-crossing exercise near the Namhan River in Yeoju, Gyeonggi Province, May 24, 2023. Yonhap
By Anna J. Park
Korea signed a framework agreement on Tuesday (local time) to supply 195 ground-combat vehicles to the Peruvian Army, marking the largest defense export deal Seoul has secured in Latin America.
According to the presidential office, the deal, inked by Korean defense firm Hyundai Rotem and Peru's Army Weapons and Ammunition Factory, covers Peru’s plan to acquire 54 K2 main battle tanks and 141 wheeled armored vehicles, a package to be produced through cooperation between Korean defense companies and Peru’s state-owned manufacturer. Officials said the arrangement is designed not only to modernize the Peruvian Army but also to strengthen long-term industrial ties between the two countries.
Officials noted that the deal is especially significant because it sets out a clear road map for concluding the implementation contracts by next year. Once those agreements are finalized, the K2 tank will make its debut in the Latin American market, extending its reach beyond Europe for the first time.
The signing ceremony in Peru on Tuesday was attended by the chief of Korea’s Defense Acquisition Program Administration, who represented the Korean government. Seoul pledged to provide close coordination and support until the implementation contracts are concluded.
"I sincerely congratulate both countries on the signing of this framework agreement for ground equipment with Peru, and I hope it serves as an opportunity to significantly elevate our bilateral defense and security cooperation," President Lee Jae Myung said in a statement released by his office. “As Peru has chosen Korea’s defense systems to strengthen its military capabilities and foster its domestic industry, it is important for both countries to build a mutually beneficial model of defense cooperation.”