South Korea is seeking to establish a Strategic Export Finance Fund by 2027 to provide loans and guarantees to foreign buyers purchasing from Korean companies. However, the fund would also require the Korean supplier to contribute a percentage of the approved loan amount in exchange for securing the export contract. Notably, this contribution would be higher for financing that supports “export-industry cooperation”, including offset activities.
Ukrainian defence companies Tencore and Center of Unmanned Technologies LLC (General Cherry) have signed agreements with Finland’s Insta and Patria, respectively, to produce drones in Finland. The agreements, signed on 23 August, aim to expand the production of unmanned systems in Finland as part of the Build with Ukraine initiative.
Belgian primes are expanding cooperation with the Indian defence industry. FN Herstal and Thales Belgium have separately signed MoUs with India’s Kalyani Strategic Systems Ltd (KSSL) to explore cooperation in small arms, counter-unmanned aerial systems (C-UAS), and 70mm rockets. Meanwhile, New Lachaussée has signed an MoU with Tembo Classic Engineering Pvt Ltd to establish ammunition production in India.
Lockheed Martin has announced a USD1.8bn industrial cooperation package for Peru as part of the country’s F-16 Block 70 acquisition. The announcement follows a protracted and politically contested fighter jet competition in which the US solution outbid Saab’s Gripen, despite reports suggesting that the Swedish jet was the leading contender.
Nigeria’s Defence Industries Corporation of Nigeria-D7G (DICON-D7G) aims to develop a partnership with Egypt's Eagles International for Defence Systems to help establish production lines for armoured vehicles, anti-drone platforms, and other specialised military equipment in Nigeria through a transfer of technology.
Kazakhstani harness manufacturer Wiretech has formed a strategic manufacturing partnership with Emirati firm Advanced Armour Engineering (AAE) to produce wiring harnesses, cabling looms, and accessories in the UAE.