Seoul secures landmark agreement to export K2 battle tanks to Peru

On December 10, South Korea announced that it had successfully concluded a framework agreement to export K2 main battle tanks to Peru, marking another step in Seoul’s ongoing effort to broaden the global reach of its defence industry.

According to Korean media, the agreement — signed between Hyundai Rotem Co. and the Peruvian Army — envisions South Korea supplying Peru with 54 K2 tanks and 141 K808 wheeled armoured vehicles by next year. The signing ceremony took place in Lima on December 9 and was attended by the chief of the Defence Acquisition Program Administration (DAPA) as well as Peru’s president and minister of defence.

The framework includes provisions covering the delivery of the tanks and armoured vehicles, alongside plans for training programs and subsequent support. Although officials did not release the exact contract value, the deal is estimated to exceed 2 trillion won (approximately US$1.4 billion). Once finalised, it would become South Korea’s largest-ever export of ground-based military equipment to a Latin American customer.

Hyundai Rotem confirmed in a regulatory filing that it had signed the framework agreement and noted that the specific scope and terms of the contract would be determined upon the conclusion of a follow-up agreement.

This development aligns with Seoul’s broader strategy to expand its presence in Latin American defence markets as part of a wider push to increase arms exports.

In May of the previous year, Hyundai Rotem and STX Corp. secured a US$60 million contract with the Peruvian Army for the supply of 30 K808 armoured vehicles. Later, in November, Hyundai Rotem signed a comprehensive cooperation agreement aimed at exporting additional ground-combat platforms to Peru, including the K2 tanks and wheeled armoured vehicles.

The K2 tank, introduced into service with the South Korean Army in 2014, is among the country’s premier military systems sold internationally, alongside the K9 self-propelled howitzer. Earlier this year, Hyundai Rotem concluded another deal with Poland to deliver a second batch of K2 tanks, building on a 2022 contract for the initial tranche.

By Tamilla Hasanova