STX Corp., a South Korean general trading firm, said Wednesday it and its South Korean partner Hyundai Rotem Co. have signed a deal with a Peruvian military weapons manufacturing institution to export 30 units of armored vehicles to the South American nation.

Under a strategic partnership agreement with the Peruvian Army Arsenal signed Monday (local time), the two South Korean companies will supply 30 units of wheeled armored personnel carriers, worth US$60 million, by 2025, according to STX.

This shipment is the first of 120 defense vehicles, based on the K808 Baekho, a standard model of the Korean Army, to be supplied to Peru as part of the South American country’s power enhancement project.

Additionally, in collaboration with the Peruvian Arsenal, STX said it has secured rights to supply various military and special vehicles ordered by the Peruvian Army, Navy, Air Force and Police.

“This strategic partnership agreement is significant as it expands our presence in the army defense market following the
navy,” STX CEO Park Sang-jun said during a signing ceremony held at the Peruvian Army Headquarters in Lima. “We will continue to expand our defense business based on the expertise we have accumulated so far.”

Source: Yonhap News Agency