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Saturday, August 27, 2011

S. Korea close to clinching Indonesia submarine deal

Changbogo-class (Type 209)Defense Minister Kim Kwan-jin is to visit Indonesia early next month to seal a $1 billion deal that would result in South Korea’s first submarine exports.

If the deal is secured, Daewoo Shipbuilding and Marine, which is likely to be chosen as the preferred bidder by the Indonesian government, will sign a memorandum of understanding to sell three 1,400-ton submarines to the Southeast Asian country, ministry officials said.

Kim will accompany nine Korean defense contractors including Daewoo from Sept. 7-9 and hold talks with his Indonesian counterpart Purnomo Yusgiantoro on the country’s modernization project for their naval fleet.

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