Hyundai Rotem confirmed media reports that Poland had concluded talks about its second contract for K2 tanks, and that the deal would be signed soon. Photo courtesy of Hyundai Rotem
South Korean’s Hyundai Rotem said that the defense company is set to sign a $6.5 billion deal with Poland to export its battle tanks.
Hyundai Rotem confirmed media reports Thursday that Poland had concluded talks about its second contract for the supply of K2 tanks, known as the Black Panther, and that the deal would be signed soon.
This deal not only will strengthen Poland’s military, but also positions Hyundai Rotem as a major player in European defense markets, business observers said.
The tanks, which have a range of more than 300 miles, are equipped with a 120mm smoothbore gun with autoloader, plus 12.7mm and 7.62mm machine guns Utilizing a three-person crew, they can track targets up to 6 miles, according to published reports.
“We have confirmed the facts with the Polish armament agency,” Hyundai Rotem said in a regulatory filing, adding the deal’s value was already decided at $6.5 billion.
South Korea’s Defense Acquisition Program Administration, or DAPA, said Wednesday the two sides were coordinating a date for the signing ceremony and other details.
However, neither Hyundai Rotem nor the DAPA disclosed how many tanks would be provided to Poland. Observers estimate that to be 180.
In July 2022, Hyundai Rotem inked a framework agreement to export up to 1,000 K2 tanks to Poland. The following month, it signed the first contract worth $3.3 billion for delivery of 180 tanks assembled in South Korea.
As of the end of last month, Hyundai Rotem shipped 133 tanks and the remaining 47 will be delivered later this year, according to the company.
Hyundai Rotem and Poland have since worked on the second-batch contract, under which around one-third of K2 tanks are expected to be manufactured in Poland.
Beyond the second-batch deal, Hyundai Rotem may secure further orders under the executive contract signed in July 2022.