South Korea signs deal to export Chunmoo rocket systems to Croatia

South Korea has signed a deal to export 18 Chunmoo multiple launch rocket systems to Croatia in an arms contract worth some 640 billion won ($477 million), the state arms procurement agency said Thursday.

South Korean defense firm Hanwha Aerospace Co. signed the deal worth 410 million euros with Croatia's defense ministry on Thursday (local time), according to the Defense Acquisition Program Administration.

It marks the first major defense contract signed between South Korea and Croatia.

Croatia has become the fourth European country to acquire the Chunmoo system, following Poland, Estonia and Norway.

The Chunmoo MLRS, mainly designed to counter North Korea's long-range artillery threats, is a South Korean weapons system capable of delivering rapid, precision strikes using various types of rockets and missiles with different ranges.

DAPA said it anticipates that exports of the Chunmoo system will serve as a stepping stone to expand long-term, strategic cooperation with local defense firms in Croatia, including on industrial cooperation and post-logistics support.

On Thursday, Defense Minister Ahn Gyu-back and DAPA Minister Lee Yong-cheol attended the signing ceremony, hosted by the Croatian prime minister and discussed ways to expand bilateral defense cooperation.