Korea will start developing heavyweight submarine-launched torpedoes to improve the Navy's capability for long-range attacks on enemy ships and submarines, the state procurement agency said Wednesday.
The Defense Acquisition Program Administration (DAPA) said it approved the 70 billion won ($61.3 million) for the heavyweight torpedo development and two other missile-related projects in a meeting hosted by Defense Minister Kim Kwan-jin.
The DAPA said it will open bids for the torpedo project next month, review proposals in October and start development in December. The heavyweight torpedo project, the fourth of its kind in the nation, will be completed by 2017, the agency said.
In the meeting, the state agency also picked three preferred bidders for a project to upgrade a mid-range surface-to-air missile to make it capable of evading ballistic missiles.
The development of the Cheolmae-2 missile, a simplified version of Russia's S-400 designed for use against aircraft and ships, was completed in December last year after five years of production.
The state agency said it will negotiate with three arms makers next month and sign a contract in September to proceed to the next step. (Yonhap)