Sunday, August 3, 2025

South Korea Secures Massive Arms Export

Hanwha Aerospace

On the 10th, the Defense Acquisition Program Administration (DAPA) announced that a contract for the export of K-9 self-propelled howitzers to Romania was signed on the 9th.

According to DAPA, this contract signed between Hanwha Aerospace and the Romanian Ministry of Defense is worth approximately $939 million and includes 54 K-9 self-propelled howitzers, 36 K-10 ammunition resupply vehicles, and other various vehicles and ammunition.

Recognized for its excellent performance, the K-9 self-propelled howitzer holds the top market share in the global export market. It has been adopted and is in operation by many North Atlantic Treaty Organization (NATO) and European Union (EU) countries.

With this export contract, Romania has become the ninth export country for the K-9 self-propelled howitzer, following Australia, Egypt, India, Norway, Estonia, Turkiye, Poland, and Finland.

Since the 15th anniversary of the establishment of their strategic partnership in 2023, South Korea and Romania have been actively conducting high-level exchanges, with the defense industry playing a key role in promoting friendly relations between the two countries.

Three exchanges have taken place since last year, including the Romanian president’s visit to South Korea, mutual visits by the prime ministers of the two countries, and the visit of the Romanian Minister of Defense to South Korea.

Since May, the head of DAPA and the Minister of National Defense visited Romania and actively supported the negotiation of this export contract through meetings with key officials such as the Minister of Defense.

With the export of the K-9 self-propelled howitzer following the Shin-Gung last year, Romania has become a major defense cooperation country in Central Europe. DAPA plans to continue various export support activities, including promoting the excellent performance of South Korea’s Redback armored vehicle, to win the future contract for Romania’s project that seeks to acquire infantry fighting vehicles.

DAPA Director Seok Jong Geon stated, “Based on the successful export of the K-9 self-propelled howitzer, we expect to expand cooperation with Romania in ground weapon systems such as the Redback armored vehicle and K-2 tank. We also hope to expand guided weapon projects including the air defense system. DAPA will cooperate with companies to continuously support defense exports.”

Hanwha Aerospace

Hot this week

U.S. Hits Chinese Graphite With 93% Tariff—Your Next EV Just Got Pricier

The U.S. imposes a 93.5% tariff on Chinese graphite, risking a $1,000 increase in EV prices as tax credits end and production costs rise.

Crypto Boom: XRP Soars After Congress Passes Stablecoin Bill

The Stablecoin Act has passed Congress, boosting crypto markets, with XRP hitting a new all-time high and regulatory clarity for stablecoins.

Market Panic? Rich Investors Saw a Bargain, Morgan Stanley Says

Morgan Stanley's profits surged as wealthy clients bought stocks during a market downturn, driven by Trump's tariff announcement.

Oil Prices Keep Dropping as Trade Fears Grow

Oil prices fell for the third consecutive day due to rising U.S. gasoline inventories and trade tensions impacting global demand.

Tesla and BYD Battle for Japan’s Electric Car Crown: Who Will Win?

Tesla and BYD aggressively expand in Japan's EV market, aiming to challenge local automakers amidst low EV adoption rates.

Topics

U.S. Hits Chinese Graphite With 93% Tariff—Your Next EV Just Got Pricier

The U.S. imposes a 93.5% tariff on Chinese graphite, risking a $1,000 increase in EV prices as tax credits end and production costs rise.

Crypto Boom: XRP Soars After Congress Passes Stablecoin Bill

The Stablecoin Act has passed Congress, boosting crypto markets, with XRP hitting a new all-time high and regulatory clarity for stablecoins.

Market Panic? Rich Investors Saw a Bargain, Morgan Stanley Says

Morgan Stanley's profits surged as wealthy clients bought stocks during a market downturn, driven by Trump's tariff announcement.

Oil Prices Keep Dropping as Trade Fears Grow

Oil prices fell for the third consecutive day due to rising U.S. gasoline inventories and trade tensions impacting global demand.

Tesla and BYD Battle for Japan’s Electric Car Crown: Who Will Win?

Tesla and BYD aggressively expand in Japan's EV market, aiming to challenge local automakers amidst low EV adoption rates.

Nvidia Stock Surges Past $170 After U.S. Clears China Chip Exports

Nvidia's stock surged over 4% after the Trump administration lifted export restrictions on H20 semiconductors to China.

Army’s New Shaving Rule Could Push Out Thousands of Black Soldiers

The U.S. Army's new shaving policy may disproportionately impact Black soldiers with shaving difficulties, raising concerns over its fairness.

Trump Slams Fed Chair Again, Demands Rates Below 1%

Trump criticizes Fed Chair Powell, insists interest rates should drop below 1%, claiming the economy is strong and inflation is nonexistent.

Related Articles