Hyundai Rotem said Tuesday it has signed a contract worth 407.7 billion won ($348.4 million) with the Defense Acquisition Program Administration to supply wheeled armored vehicles by 2023.

According to the rolling stock and arms manufacturing unit of Hyundai Motor Group, it will mass-produce the third batch of K806 and K808 armored personnel carriers to DAPA by 2023.

Hyundai Rotem won the order for the first batch worth 26.9 billion won in 2016 and completed the delivery in 2018. It also grabbed the order for the second batch worth 412.9 billion won in 2017 and aims to complete the delivery within this year.

“Based on its know-how from the mass production of the first and the second batches, Hyundai Rotem will supply high-quality armored vehicles for the third batch,” a company official said.

K806 armored vehicles are designed for mobile strikes and reconnaissance missions in the rear, while K808 are intended for swift troop deployment and reconnaissance missions in front-line areas.

By Kim Byung-wook (kbw@heraldcorp.com)