South Korea Wednesday unveiled a five-year plan to localize the production of key parts of strategic weapons.
Under the 2015-19 scheme, the Defense Acquisition Program Administration (DAPA) plans to support local defense firms in producing dozens of key parts for 10 indigenous weapons in five areas -- vehicles, firearms, aviation, vessels and reconnaissance, according to South Korea's (Yonhap) News Agency.
The 10 weapons are K-2 combat tanks, wheeled armored vehicles, Chunmoo artillery rocket ammunition, remote controlled munitions, the KUH-1 Surion utility helicopter, the planned Boramae indigenous fighter, KD-III Aegis destroyers, guided-missile patrol gunboats and two types of reconnaissance radar.
"After conducting surveys and analysis, we've chosen the items to develop their key parts at home in a strategic and systematic fashion," the arms procurement agency said in a release.
"This year alone, the DAPA earmarked 12 billion won about (US$10.95 million) for the project, which will be executed starting in June in earnest in a top-down way for the sake of effectiveness," according to a DAPA official.
Since the agency launched a similar localization project in 2010, the nation was successful in producing seven parts with its own technology, including one for K-9 self-propelled howitzers, which created 4.48 billion won about (US$4.09 million) in economic value.