South Korea and Australia have signed the first-ever defence deal worth $720 million. Moon Jae-in who is the president of South Korea becomes the first leader to visit Australia since the pandemic started.
Worth around 1 billion Australian dollars, the arrangement will see South Korean safeguard organization Hanwha furnish the Australian armed forces with gunnery weapons, supply vehicles and radars.
It is stated that this is the largest defence contract struck between Australia and an Asian nation, and comes at a time of heightened tensions. Australia has also announced recently to build nuclear-powered submarines in a partnership with Britain and the U.S.
Moon went to meet Scott Morrison, Australian prime minister and at that time they both decided to upgrade the formal ties between their nations to a “comprehensive strategic partnership.” They also added that together they would work for the development of clean energy technologies which incorporate hydrogen, and on facilitating the supply of critical minerals.
The contract is going to help the Australian residents to some extent. Furthermore, Morrison also added that there would be around 300 new jobs due to the defence contract in the country.
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