Latest news with #K2tanks
Al Arabiya
03-07-2025
- Automotive
- Al Arabiya
Poland completes negotiations to buy South Korean K2 tanks: Reports
Poland has completed negotiations with South Korea's Hyundai Rotem to receive a second batch of K2 tanks and plans to sign a contract, South Korea's defense procurement agency said on Wednesday. The specific size of the contract will be disclosed later, South Korea's Defense Acquisition Program Administration said in a statement. On Thursday, Hyundai Rotem said in a regulatory filing the Polish arms procurement agency has confirmed the contract was worth $6.5 billion. It said further details of the deal would be announced in a later filing. The Yonhap News Agency has said the deal was to supply 180 tanks. In 2022, Poland and Hyundai Rotem agreed to a supply deal for the first batch, or 180 K2 tanks. While the first contract focused on Korean-made vehicles that could be quickly supplied as Poland moved swiftly to boost its military amid Russia's war in neighboring Ukraine, the second batch is expected to grant the Korean arms maker a more permanent foothold in Europe. DAPA said a production facility in Poland would be established, with a large number of K2 tanks to be assembled locally through cooperation between Hyundai Rotem and Polish defense companies.
Reuters
03-07-2025
- Automotive
- Reuters
Poland completes negotiations to buy South Korean K2 tanks, agency says
SEOUL, July 3 (Reuters) - Poland has completed negotiations with South Korea's Hyundai Rotem ( opens new tab to receive a second batch of K2 tanks and plans to sign a contract, South Korea's defence procurement agency said on Wednesday. The specific size of the contract will be disclosed later, South Korea's Defense Acquisition Program Administration said in a statement. On Thursday, Hyundai Rotem said in a regulatory filing the Polish arms procurement agency has confirmed the contract was worth $6.5 billion. It said further details of the deal would be announced in a later filing. The Yonhap News Agency has said the deal was to supply 180 tanks. In 2022, Poland and Hyundai Rotem agreed a supply deal for the first batch, or 180 K2 tanks. While the first contract focused on Korean-made vehicles that could be quickly supplied as Poland moved swiftly to boost its military amid Russia's war in neighbouring Ukraine, the second batch is expected to grant the Korean arms maker a more permanent foothold in Europe. DAPA said a production facility in Poland would be established, with a large number of K2 tanks to be assembled locally through cooperation between Hyundai Rotem and Polish defence companies.
Al Arabiya
10-06-2025
- Business
- Al Arabiya
South Korea in ‘final stages' to sign major tank deal with Poland
South Korea is in the 'final stages' of negotiations to potentially sign a major deal to supply K2 tanks to Poland, according to South Korea's Defense Acquisition Program Administration on Tuesday. In 2022, the two countries signed a $13.7 billion arms deal - Seoul's largest to date - which included South Korean K2 tanks and fighter jets for Poland, Ukraine's ally and neighbor. The negotiations for the potential upcoming deal - part of the broader 2022 agreement - are 'in the final stages, with both governments and companies working to expedite its conclusion,' an official from South Korea's Defense Acquisition Program Administration told AFP. While the agency did not disclose the amount, it said if signed, the deal would be the 'largest ever based on a single weapon system.' South Korea's Yonhap news agency reported that the potential deal is worth around $6 billion, with the country's Hyundai Rotem set to manufacture 117 tanks and Poland's state-owned Polish Armaments Group producing 63 locally. Yonhap reported that the signing ceremony is scheduled to take place in late June in Poland, but the Defense Acquisition Program Administration said the 'signing schedule for the second contract has not yet been finalized.' 'This contract includes provisions such as local production and technology transfer, which have required a significant negotiation period,' it said in a statement. The contract was originally expected to be signed late last year, according to Yonhap, but was delayed due to issues including political turmoil in South Korea following the brief declaration of martial law in December. South Korea has emerged as a major player in global defense exports, as Moscow's invasion of Ukraine created opportunities for its industry to secure large-scale contracts across Europe and the Middle East. It has signed major arms deals with countries such as Poland and Romania, including the export of K9 Howitzers and Chunmoo missile systems. South Korea's President Lee Jae-myung, who took office last week, has vowed a more dovish approach towards Pyongyang - an ally of Russia - compared with his predecessor Yoon Suk Yeol. The nuclear-armed North, which technically remains at war with the South, has recently bolstered military ties with Russia. Pyongyang sent at least 14,000 troops to support Moscow's war in Ukraine, and officially declared the South an enemy state.
Yahoo
10-06-2025
- Business
- Yahoo
South Korea in 'final stages' to sign major tank deal with Poland
South Korea is in the "final stages" of negotiations to potentially sign a major deal to supply K2 tanks to Poland, according to South Korea's Defense Acquisition Program Administration on Tuesday. In 2022, the two countries signed a $13.7 billion arms deal -- Seoul's largest to date -- which included South Korean K2 tanks and fighter jets for Poland, Ukraine's ally and neighbour. The negotiations for the potential upcoming deal -- part of the broader 2022 agreement -- are "in the final stages, with both governments and companies working to expedite its conclusion", an official from South Korea's Defense Acquisition Program Administration told AFP. While the agency did not disclose the amount, it said if signed, the deal would be the "largest ever based on a single weapon system". South Korea's Yonhap news agency reported that the potential deal is worth around $6 billion, with the country's Hyundai Rotem set to manufacture 117 tanks and Poland's state-owned Polish Armaments Group producing 63 locally. Yonhap reported that the signing ceremony is scheduled to take place in late June in Poland, but the Defense Acquisition Program Administration said the "signing schedule for the second contract has not yet been finalised". "This contract includes provisions such as local production and technology transfer, which have required a significant negotiation period," it said in a statement. The contract was originally expected to be signed late last year, according to Yonhap, but was delayed due to issues including political turmoil in South Korea following the brief declaration of martial law in December. South Korea has emerged as a major player in global defence exports, as Moscow's invasion of Ukraine created opportunities for its industry to secure large-scale contracts across Europe and the Middle East. It has signed major arms deals with countries such as Poland and Romania, including the export of K9 Howitzers and Chunmoo missile systems. South Korea's President Lee Jae-myung, who took office last week, has vowed a more dovish approach towards Pyongyang -- an ally of Russia -- compared with his predecessor Yoon Suk Yeol. The nuclear-armed North, which technically remains at war with the South, has recently bolstered military ties with Russia. Pyongyang sent at least 14,000 troops to support Moscow's war in Ukraine, and officially declared the South an enemy state. cdl/dhc
Reuters
09-06-2025
- Automotive
- Reuters
South Korea close to $6 billion tank deal with Poland in June, Yonhap reports
SEOUL, June 10 (Reuters) - South Korea is close to signing a deal worth around $6 billion to supply 180 K2 tanks for Poland, Yonhap News Agency reported on Tuesday. Under the contract, South Korea's Hyundai Rotem ( opens new tab, which specialises in industrial and defence contracts, will manufacture 117 tanks, and Poland state-owned Polish Armaments Group will produce the rest locally, Yonhap said. Hyundai Rotem was not immediately available for comment. The signing ceremony will take place in late June in Poland, Yonhap said, citing an anonymous industry source. The two countries in 2022 reached a $13.7 billion arms deal, Seoul's biggest ever, which included supplies of South Korean K2 tanks, rocket launchers and fighter jets to Poland. South Korea used the deal to lay the groundwork for a military-industrial juggernaut that the two nations' defence companies hope would feed Europe's hunger for weapons far into the future. The K2 tank supply contract, part of the broader deal in 2022, was expected to be finalised by the end of last year but appeared to be delayed, partly due to South Korea's political crisis sparked by the short-lived declaration of martial law in December, Yonhap added.
