BoyElroy
02-27-2006, 02:33 AM
Korea Times
February 27, 2006 Monday
LENGTH: 261 words
HEADLINE: Korea Looks to Russia for Arms
BODY:
By Jung Sung-ki
With the renewed positive political and economic relationship between South Korea and Russia, the two countries are seeking to expand military cooperation.
This is in tandem with the Roh Moo-hyun government's foreign policy of diversifying Korea's military procurement and enhancing ties with neighboring countries. Russia now becomes a key partner on security matters, including arms sales, a military source said on Sunday.
"The government is seeking to make the relationship with the Kremlin more favorable as Russia is a security linchpin on the Korean Peninsula," a senior official at the Defense Ministry told The Korea Times, requesting anonymity.
"Russia's aerospace and weapons technology is what the government wants to expand cooperation in," he said.
Seoul, which is pushing for a 15-year defense reform plan to modernize weapons systems, has sought hi-tech Russian weapons such as an anti-aircraft guided missile system, in lieu of debt repayment to Korea.
The two countries have engaged in arms-for-debt swaps, dubbed "Brown Bear" from 1995, as a way for Moscow to pay back overdue loans rescheduled by Seoul in 1991.
Seoul extended $1.47 billion in bank loans and a $470-million commodities loan to the former Soviet Union in 1991, when they established diplomatic ties.
Then the two nations signed a deal for Moscow to provide Seoul with $214 million worth of modern arms, including T-80 tanks, METIS-M anti-tank missiles and BMP-3 infantry combat vehicles, from 1995-1998 to pay off its debts.
The second pahse of the project resumed in 2003.
LOAD-DATE: February 26, 2006
Prev
February 27, 2006 Monday
LENGTH: 261 words
HEADLINE: Korea Looks to Russia for Arms
BODY:
By Jung Sung-ki
With the renewed positive political and economic relationship between South Korea and Russia, the two countries are seeking to expand military cooperation.
This is in tandem with the Roh Moo-hyun government's foreign policy of diversifying Korea's military procurement and enhancing ties with neighboring countries. Russia now becomes a key partner on security matters, including arms sales, a military source said on Sunday.
"The government is seeking to make the relationship with the Kremlin more favorable as Russia is a security linchpin on the Korean Peninsula," a senior official at the Defense Ministry told The Korea Times, requesting anonymity.
"Russia's aerospace and weapons technology is what the government wants to expand cooperation in," he said.
Seoul, which is pushing for a 15-year defense reform plan to modernize weapons systems, has sought hi-tech Russian weapons such as an anti-aircraft guided missile system, in lieu of debt repayment to Korea.
The two countries have engaged in arms-for-debt swaps, dubbed "Brown Bear" from 1995, as a way for Moscow to pay back overdue loans rescheduled by Seoul in 1991.
Seoul extended $1.47 billion in bank loans and a $470-million commodities loan to the former Soviet Union in 1991, when they established diplomatic ties.
Then the two nations signed a deal for Moscow to provide Seoul with $214 million worth of modern arms, including T-80 tanks, METIS-M anti-tank missiles and BMP-3 infantry combat vehicles, from 1995-1998 to pay off its debts.
The second pahse of the project resumed in 2003.
LOAD-DATE: February 26, 2006
Prev