STX Corp. Secures $60 Million Contract for Armored Vehicle Export to Peru.

Seoul: STX Corp., a South Korean general trading firm, announced on Monday that it has entered into a US$60 million agreement with the Peruvian Army's weapons manufacturing body to supply 30 armored vehicle units to Peru. The deal involves the export of K808 armored vehicles, known as Baekho, which are produced by South Korean defense company Hyundai Rotem Co.According to Yonhap News Agency, the contract represents approximately 9 percent of STX's average annual sales. The firm is presently engaged in discussions for potential follow-up orders and is considering prospects for long-term equipment supply and technical cooperation with Peru.The agreement is attributed to years of collaboration with the Peruvian Army. STX anticipates sustained revenue growth in the South American market over the mid to long-term period, as part of its strategic expansion plans.