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[Breaking] Hyundai Rotem Signs 198.5 Billion Won Outsourced Maintenance Contract for 'K-1 Equipment' with Defense Acquisition Program Administration

On the 25th, Hyundai Rotem announced that it has signed an outsourced maintenance contract worth 198.523 billion won (198,523,000,000 won) with the Defense Acqu

CBC News Desk
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[Breaking] Hyundai Rotem Signs 198.5 Billion Won Outsourced Maintenance Contract for 'K-1 Equipment' with Defense Acquisition Program Administration
CBC News

On the 25th, Hyundai Rotem announced that it has signed an outsourced maintenance contract worth 198.523 billion won (198,523,000,000 won) with the Defense Acquisition Program Administration for the 'K-1 Armored Recovery Vehicle and K-1 Bridge Layer Tank.'

This contract will be carried out from June 25, 2026 to December 14, 2029, with the supply region being the Republic of Korea. The contract amount is equivalent to 3.40% of Hyundai Rotem's most recent revenue (5.8393155 trillion won) based on its 2025 consolidated financial statements.

Hyundai Rotem stated that a zero-rate tax will be applied to this contract, and that the contract deposit and advance payment will be disbursed. Payments will be made in accordance with progress billing conditions.

Additionally, the company added, "The contract period and contract amount may change depending on the future progress of the project."

CBC News Desk
Staff Reporter

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