India and South Korea signed two agreements to build artillery guns for the Indian Army and for collaboration in shipbuilding.
One of them is an Inter-Governmental Agreement (IGA) between the governments while the other is a manufacturing agreement between two private companies.
India has already nominated Hindustan Shipyard Limited (HSL), Visakhapatnam while South Korea will designate their shipyard soon.
The MoU was conceived under the overall umbrella of the ‘Special Strategic Partnership’ between both sides.
The two sides will identify specific projects to work on and this cooperation is expected to enable HSL to upgrade and modernise its facilities.
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.