Hyundai Rotem and Kongsberg team up for defense solutions business

[Source: Hyundai Rotem Co.]

South Korea’s Hyundai Rotem has teamed up with Norway’s Kongsberg Gruppen to enhance its presence in the global defense solutions market amid rising recognition of Korean weapons after multibillion-dollar exports to Poland.

Hyundai Rotem announced Wednesday that it signed an agreement with Kongsberg to collaborate in developing advanced defense solutions and marketing activities.

Under the agreement, Hyundai Rotem will use Kongsberg’s remote weapon system and other defense solutions to its K2 battle tanks and K808 armored personnel carriers. The two partners will also work together on developing new defense solutions for next-generation tanks and armored vehicles.

The latest deal comes at a time when Hyundai Rotem has been seeking to win tank orders in Norway. It demonstrated K2 tanks for operation in cold weather in Norway in January this year.

On Thursday, Hyundai Rotem shares rose 2.75 percent to 26,150 won ($18.17).

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