South Korea announced on Tuesday that the Hanwha Defense Company had signed a contract to export K9 self-propelled howitzers worth $1.65bn to Egypt, Yonhap News Agency reported.
The deal includes the production of K9 in Egypt and technology transfer of the new artillery, according to South Korea’s Defense Acquisition Program Administration (DAPA). Egypt became the ninth country in the world to own the K9 howitzers from South Korea and the first in Africa. Negotiations for this deal lasted for more than 10 years between the two sides.
Hanwha Defense signed the contract in Cairo, in the presence of senior Egyptian officials, including Mohamed Zaki, Minister of Defence, and Mohamed Ahmed Morsi, Minister of State for Military Production. From the Korean side, Won-ho, Head of the DAPA, and Korean Ambassador to Egypt, Hong Jin-wook, attended the ceremony.
Moreover, a memorandum of understanding for cooperation between Korea and Egypt in defence research and development was signed.
Minister Zaki stressed that Egypt attaches great importance to military industrialization and the development of armament systems, as it is one of the most important components of the military strength. He pointed out that the Egyptian Armed Forces are keen to keep pace with the global development in the armament systems to fulfill their responsibility of preserving the security of the country.
Korean Ambassador Hong Jin Wook noted that President Moon Jae-in’s recent visit to Egypt has created impetus to enhance cooperation between Korea and Egypt in several fields.
During the visit, trade and economic partnership agreements were signed between the two sides in several fields, including railway development, seawater desalination, renewable energy, preservation and restoration of cultural monuments, and military production.