South Korea & Peru sign historic Naval Defense Agreement for Submarine Development.

According to information published by the South Korean MoD on November 17, 2024, South Korean President Yoon Suk Yeol and Peruvian President Dina Boluarte met in an official summit at the Presidential Palace in Lima, Peru. During this landmark meeting, the two nations adopted a joint declaration and signed multiple Memorandums of Understanding (MOUs), significantly advancing their partnership in naval defense, among other areas.
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Meeting between the South Korean and the Peruvian delegations at the Government Palace of Peru. (Picture source: South Korean MoD)

Among the defense agreements signed, the most notable is the MOU for joint submarine development. This initiative aims to combine South Korea's advanced naval engineering capabilities with Peru's strategic maritime interests, fostering closer military collaboration between the two countries.

The joint submarine development aligns with Peru's aspirations to modernize its naval fleet and improve its maritime capabilities. South Korea, with its expertise in building advanced naval platforms such as the KSS-III submarines, is well-positioned to assist Peru in this endeavor. The agreement also opens doors for technology transfer, industrial cooperation, and enhanced interoperability between the two nations' naval forces.

In addition to the submarine development, the two leaders emphasized the importance of leveraging South Korea's advanced shipbuilding industry to explore further naval projects, including potential collaborations on surface combatants and logistics vessels.

Peru-South Korea

The relationship began with South Korea's donation of two Pohang-class corvettes to the Peruvian Navy: BAP Ferré in 2016 and BAP Guise in 2022. 

A pivotal aspect of this partnership has been the joint construction of naval vessels. In 2013, Peru's state-owned shipyard, Servicios Industriales de la Marina (SIMA), collaborated with South Korea's Daesun Shipbuilding & Engineering to build the Makassar-class landing platform dock, BAP Pisco. This project was followed by the construction of additional patrol vessels based on South Korean designs.

In April 2024, HD Hyundai Heavy Industries (HHI) secured a $463 million contract with SIMA to co-construct four naval vessels for the Peruvian Navy: a 3,400-ton frigate, a 2,200-ton offshore patrol vessel, and two 1,500-ton landing craft units. This deal, the largest defense export from South Korea to Latin America, is set for completion by 2029.

High-level meetings have reinforced this partnership. In November 2023, South Korean President Yoon Suk Yeol and Peruvian President Dina Boluarte agreed to strengthen cooperation in the defense industry during the Asia-Pacific Economic Cooperation (APEC) summit.