South Korea, Peru sign landmark defense framework agreement for major ground equipment deal

South Korea and Peru have signed a wide-ranging framework agreement to supply ground equipment to the Peruvian Army, Seoul’s presidential office announced Tuesday.

According to the presidential office, the deal outlines Peru’s plan to acquire 195 pieces of ground equipment — 54 K2 main battle tanks and 141 wheeled armored vehicles — through cooperation among the Peruvian Army, South Korean defense contractors and Peru’s state-owned defense firm.

Seoul officials said the framework agreement establishes a critical milestone toward concluding binding implementation contracts by next year. If finalized, the deal would mark the first entry of South Korea’s K2 tank into the Latin American market, expanding its footprint beyond Europe.

The signing ceremony, hosted by Peruvian President Dina Boluarte, was attended by South Korea’s Defense Acquisition Program Administration chief as the government’s representative. South Korea said it will continue close consultations with Lima as the two sides move toward finalizing implementation contracts.

“As Peru has chosen K-defense not only to strengthen its military capabilities but also to foster its own industrial growth, our two countries must build a defense-industry partnership that ensures mutual benefit,” President Lee Jae Myung said in a statement.