South Korea, Peru Sign Multiple MoU in Submarines, KF-21 Jet Parts and Armored Vehicles

South Korea and Peru begun a new level of cooperation in the defense industry through the joint development of ships, submarines besides manufacture of KF-21 jet parts and armored vehicles.

President Yoon Suk Yeol and Peruvian President Dina Boluarte announced the agreement on Saturday in a joint statement after their summit talks held on the sidelines of the Asia-Pacific Economic Cooperation summit in Peru.

In the joint statement, the two leaders said that cooperation in national defense and the defense industry has become a milestone in the development of a comprehensive strategic partnership between the two countries.

In the first, the Peruvian company FAME &  Hyundai Rotem-STX signed a MoU for the acquisition, co-development, and technical transfer for the production of wheeled and tracked armored vehicles.

In the second, the Peruvian company SIMA-Peru  & Hyundai Heavy Industries held a ceremony for the start of construction of an Oceanic Patrol Vessel (OPV) and two Auxiliary Logistics Transport Units was held, with the leaders of the Republic of Korea and Peru signing the commemorative plaques celebrating the event. The two also signed an MoU for the co-development of submarines.

In the third, The Peruvian company SEMAN &  Korea Aerospace Industries (KAI) signed a MoU for the production of parts for the KAI KF-21 Boramae.

Interestingly, there are no reports as yet of Peru being interested in buying the KF-21 fighter jet from KAI. The aircraft is still going through its development phase and is expected to enter service in 2026-27.  There is some speculation that South Korea is looking for an Indonesia-type co-development deal with Peru.