India and South Korea will on Friday ink a Memorandum of Understanding (MoU) in the Defence Industry Cooperation in Shipbuilding. Secretary Defence Production Ashok Kumar Gupta from India and Minister of Defence Acquisition and Programme Administration from Republic of Korea Chang Myoung Jin will be signing the documents.
Earlier in the day, Indian engineering conglomerate Larsen & Toubro (L&T) and Hanwa Techwin of South Korea signed a contract to manufacture the K9 Vajra-T tracked self propelled artillery guns for the Indian Army.
The deal worth Rs. 4,600 crore is for 100 guns and is likely to expand further. Deliveries will begin in 18 months and completed in 42 months.