Hyundai Rotem Co. said Monday it has signed a comprehensive cooperation agreement with Peru's Army Weapons and Ammunition Factory (FAME) aimed at exporting ground weapons to the country, including its K2 battle tanks and wheeled armored vehicles.

The agreement was made on the sidelines of the Asia-Pacific Economic Cooperation summit in Peru on Saturday, which was attended by South Korean President Yoon Suk Yeol and his Peruvian counterpart, Dina Boluarte, according to company officials.

The agreement is an advance procedure before Hyundai Rotem and FAME sign a formal contract for the export of K2 tanks and wheeled armored vehicles, designed for fast troop deployment to various front-line areas, to Peru.

"We will work to help the modernization of the Peruvian military with our technology and expertise as South Korea's only battle tank manufacturer," an official at Hyundai Rotem said, vowing to put in efforts to finalize the export deal.

In May, the Korean company was also picked as the preferred bidder for a contract to export 30 K-808 White Tiger armored vehicles to Peru, which is anticipated to be formalized within this year. If finalized, the May deal will mark South Korea's first exports of armored vehicles to Latin America. (Yonhap)