Seoul: South Korean defense firm Hanwha Aerospace Co. is on the verge of finalizing a significant deal to export its Chunmoo multiple launch rocket system (MLRS) to Croatia, as reported by industry sources on Friday.

According to Yonhap News Agency, Hanwha Aerospace has been engaged in advanced negotiations with Croatia to provide 18 Chunmoo launchers along with guided missiles. The deal is estimated to be valued at 435.2 million euros, which is approximately US$510 million. This potential agreement positions Croatia to become the fourth European nation to incorporate the Chunmoo system into its defense arsenal, following in the footsteps of Poland, Estonia, and Norway.

The Chunmoo MLRS, designed to counter artillery threats from North Korea, is a versatile South Korean weapon system. It is capable of executing rapid and precise strikes using a variety of rockets and missiles, each offering different range capabilities. This adaptability and precision make the Chunmoo a formidable addition to any country's military capabilities.