South Korea has also signed a preliminary deal with Peru to sell battle tanks and armoured vehicles as part of its biggest defence contract with a Latin American nation, as it looks to capitalise on its dominance in the global arms market other than Europe.
According to Yonhap News, which did not use sources, the deal would be more than two trillion won (US$1.4 billion, or RM5.76 billion). It involves the possibility of 54 tanks of K2 and 141 armoured vehicles being sold to the Peruvian army by Hyundai Rotem Co with the aim of signing an agreement by next year, by the South Korean presidential office.
Breaking news. Peru and South Korea have officially signed a historic contract for 54 K2 Black Panther tanks and 141 K808 White Tiger APCs. Congratulations! This marks the first export of K2 tanks to Latin America and the largest ground equipment contract ever signed by South… pic.twitter.com/gRZ93SOOBc
— Mason ヨンハク (@mason_8718) December 10, 2025
The presidential office of South Korea and Hyundai Rotem refused to comment on the value of the contract reached by Bloomberg News.
The presidential office said in a statement that the scale of exports of the ground equipment under the framework agreement is the biggest export of defence equipment to Latin America. It provided that in case the deal is carried out, then it would have been the first time that Korea exported the K2 tank to Latin America. It has only previously signed a contract to deliver the tanks to Poland.
The news was announced months after Poland signed a US$6.5 billion contract to acquire K2 tanks in the latest action taken by the Nato member to strengthen its military after the invasion of neighbouring Ukraine by Russia.
The defence manufacturers of South Korea have had a reputation for speed and reliability in recent years, which is a result of decades of training their armed forces in the event of a possible conflict with their heavily militarised neighbour, North Korea.
The report by the Stockholm International Peace Research Institute of March 2011 indicates that South Korea is the 10th largest arms exporter in the world and is looking forward to achieving position number four by the year 2027.
