Tallinn: The Korea Trade-Investment Promotion Agency (KOTRA) announced it has signed a deal with the Estonian arms procurement agency to export South Korea's Chunmoo multiple launch rocket system (MLRS) to the Eastern European country.

According to Yonhap News Agency, under the government-to-government (G2G) contract signed with the Estonian Centre for Defence Investments in Tallinn, Hanwha Aerospace Co. will supply six Chunmoo rocket launchers and three types of missiles over the next three years. The deal is valued at 300 million euros (US$351.5 million).

The Chunmoo MLRS is a Korean weapons system developed to counter North Korean artillery threats. It is capable of delivering rapid, high-precision firepower using multiple types of rockets and missiles with varying ranges.

The agreement follows a memorandum of understanding on Tallinn's acquisition of the rocket system, signed by the defense ministers of the two countries in Seoul in October. Estonia has announced plans to invest 10 billion euros to enhance its defense capabilities by 2029.

This latest deal marks the second export contract for the Chunmoo MLRS to a European country, following a previous agreement with Poland. In 2018, Estonia reached a separate agreement with Hanwha Aerospace to import the company's K9 self-propelled howitzers.

KOTRA stated it is a contracting party to the G2G deal, which involves agreements between government entities for the purchase of products, services, or solutions. These contracts are often utilized for national security, complex projects, or urgent needs.