South Korea Approves $3.3 Billion Naval Destroyer Project

The South Korean MoD on Tuesday approved plans to build three Aegis-equipped destroyers worth 3.9 trillion won (US$3.3 billion).

The plan also includes upgrading submarines to enhance the military's operational capabilities, the Defense Acquisition Program Administration (DAPA) said to local media.

The Defense Project Promotion Committee passed the plans to construct the second batch of three destroyers, called Gwanggaeto the Great Ⅲ, by 2028 with a budget of around 3.9 trillion won (US$3.3 billion), Yohhap news said quoting DAPA.

The new destroyers are to be equipped with an upgraded US Aegis defence system which will allow them to intercept ballistic missiles. The Block 10 version of the Lockheed Martin’s Aegis system heralds a new era in detection and tracking as it can simultaneously track and defend against missiles, aircraft and enemy ships.

The Defence Projects Promotions Committee also approved a plan to build the next-generation indigenous submarine, the Jangbogo Ⅲ.

The Jangbogo Ⅲ project refers to building three 3,450-ton submarines by 2028 that will be equipped with ballistic missile launchers, under a budget of 3.4 billion won, according to the DAPA.