SEOUL, Dec. 24 (Yonhap) -- South Korea has completed the development of an indigenous ship-based guided interceptor to bolster the Navy's defense capabilities, Seoul's state arms procurement agency said Monday.
Since 2011, the Agency for Defense Development (ADD) had spearheaded the project to develop the Haegung (sea bow) designed to intercept incoming missiles or shoot down hostile aircraft, the Defense Acquisition Program Administration (DAPA) said.
The production of the new weapon is set to begin next year, under a plan to start placing it on Navy warships in 2021. It will replace the U.S.-made Rolling Airframe Missiles that the Navy has deployed since 2003.
"As it has been developed with purely indigenous technologies, the interceptor has the price and technological competitiveness, and we have expectations for its exports," DAPA said in a press release.
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