Peru Explores $1.5 Billion Korean Arms Deal with Hyundai Rotem, Seeks Export Financing
Peru is considering borrowing from South Korean policy banks for a $1.5 billion arms deal with Hyundai Rotem, which includes 54 K2 tanks and 141 K808 armored vehicles. The Export-Import Bank of Korea and Korea Trade Insurance Corporation are potential sources of financing. The Peruvian government has not yet made a formal request for financing, but its sovereign credit rating of BBB is favorable for such arrangements.
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Peru is pursuing a $1.5 billion arms deal with South Korean defense company Hyundai Rotem, which involves 54 K2 tanks and 141 K808 armored vehicles. The Peruvian government has expressed interest in obtaining export financing from South Korean policy banks, including the Export-Import Bank of Korea and Korea Trade Insurance Corporation.
While no formal request for financing has been made, Peru's BBB sovereign credit rating positions it well for such support. The Export-Import Bank is currently discussing potential financing arrangements as part of the contract negotiation process, reflecting the high defense demand in Latin America.
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