S. Korea Inks $1.1 Bil. Deal to Sell Subs to Indonesia

Daewoo Shipbuilding has signed S. Korea’s largest-ever arms export deal Wednesday under which it will sell three submarines to Indonesia for $1.1 bil. This marks the first time S. Korea has exported submarines to a foreign nation.

Each of the three submarines weigh 1,400 tons and can carry 40 sailors. They can fire guided missiles and torpedoes through eight launch tubes. The submarines are scheduled to be delivered during the first half of 2018.

The submarine deal was preceded in May by a deal to export 15 supersonic T-50 Golden Eagle trainer jets to Indonesia for $400 million.

Thanks in large part to those two arms deals with Indonesia, S. Korea’s defense exports have set a record $2.4 billion for 2011, over twice the amount exported in 2010, according to the Defense Acquisition Program Administration.