The Ministry of National Defense of South Korea has allocated funding for the third batch of K2 main battle tanks (MBTs). Funding was announced from the defence budget of 2023.
The package of 4.8 billion dollar was contained in the budget to strengthen operational response capabilities.
South Korea’s indegenouly developed, Hyundai Rotem, K2 MBT is known as the most expensive tank in the world with a price tag of 8.5 million dollar. It has a locally developed engine and a German-made transmission system.
Despite the desire of selling tanks to other countries, the exorbitant price of tank made it difficult to export. In 2020, Poland has shown desire to buy K2 MBTs, but the deal has been stuck. Egypt also wanted to produce K2 battle tanks locally earlier.
The hydropneumatic suspension makes the tank special in this category. Suspension can be adjusted for cross-country performance, which provides more ground clearance.
South Korea has also been a major supplier of weapons and military equipment to India. In 2019, the two countries finalised a roadmap for cooperation in the joint production of various land and naval systems.
Both countries also agreed to go for joint production and export of military hardware, enhance intelligence sharing and boost cooperation in cyber and space domains as the part overall expansion of defence and security ties in between India and South Korea.