South Korea wraps up talks toward potentially biggest-ever defense deal

South Korea's weapons development authority announced the completion of negotiations for what is said to be the biggest deal in the history of the country's arms industry, marking a step forward for the ascending weapons manufacturer, Report informs via Nikkei Asia.

The Defense Acquisition Program Administration said in a news release on Wednesday that Hyundai Rotem, a privately owned South Korean company, had concluded talks with Poland to supply K2 tanks.

The agency did not disclose the size of the contract, but in a research update, Mirae Asset Securities valued it at $6.7 billion for the provision of 261 tanks.