S Korea, US To Share Info On Defence Firms

South Korea and US will be signing bilateral pact Monday to share information on their defense industry companies in a move to facilitate the trade of weapons.

"We have had some difficulties in obtaining credible information on the US and other foreign countries' weapons companies.” Chang Myoung-jin, head of the Defense Acquisition Program Administration (DAPA) was quoted as saying by Yonhap News Agency today.

The bilateral pact will help us sign agreements with weapons firms, he added.

US Deputy Secretary of Commerce Bruce H. Andrews will sign a memorandum of cooperation for information sharing on each other's weapons manufacturers in Washington.

DAPA and the US Ministry of Commerce will hold a meeting annually to promote cooperation in sharing information on weapons makers. The first meeting will be held in Washington right before the pact is signed, the DAPA official said. 

"The country has also considered signing a similar pact with France, Britain and Israel. “It will not only help secure credible weapons partners but increase weapons exports," said Kim jong-chool, DAPA's director general of programming & support department.