After success of Iron Dome against Hamas Rockets South Korea shows interest to buy system 2911123

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Defense News - South Korea
 
 
Thursday, November 29, 2012, 07:50 AM
 
After success of Iron Dome against Hamas Rockets South Korea shows interest to buy the system.
The Israeli Ministry of Defense is in talks with South Korea's Daewoo Shipbuilding & Marine Engineering Co. Ltd to purchase four patrol boats for the Israel Navy to protect Israel's exclusive economic zone. If the $400 million deal goes ahead, the ministry is expected to demand reciprocal procurements by Korea of the advanced missile interception system Iron Dome made by Rafael Advanced Defense Systems Ltd.
     
The Israeli Ministry of Defense is in talks with South Korea's Daewoo Shipbuilding & Marine Engineering Co. Ltd to purchase four patrol boats for the Israel Navy to protect Israel's exclusive economic zone. If the $400 million deal goes ahead, the ministry is expected to demand reciprocal procurements by Korea of the advanced missile interception system made by Rafael Advanced Defense Systems Ltd.
Iron Dome system in Ashdod intercepts a rocket fired from the Gaza Strip. Since the beginning of Operation Pillar of Defense, the Iron Dome system has intercepted hundreds of rockets fired at Israeli communities from the Gaza Strip. (Credit photo IDF)
     

Earlier this year, Korean Aerospace Industries Ltd. (KAI) lost the Ministry of Defense tender for the Air Force's new jet trainer to Italy's Alenia Aermacchi, to Korea's bitter disappointment. Sources close to the issue believe that the new deal to buy Korean patrol boats could ease the disappointment in Seoul. In the bidding for the jet trainers, Korea offered reciprocal procurements centered on the Iron Dome missile interceptor. The offer is partly because of the threat to South Korea from North Korean missiles.

Ministry of Defense director general Udi Shani is reviewing the matter. In addition to buying patrol boats from Daewoo, the ministry is considering other reciprocal procurement offers, including from Lockheed Martin Company (NYSE: LMT), which produces the F-35 stealth jet fighter, which the Air Force will use; a German shipyard; or for the patrol boats to be built by Israel Shipyards Ltd. The Ministry of Defense has already considered and dropped the idea of procuring US patrol boats, because of their high cost. Production of the boats in Israel was also dropped after staff work by the Ministry of Defense and Ministry of Finance because of the need for heavy investment in the necessary infrastructure

Israel’s U.S.-funded Iron Dome missile defense system has been, by every appearance, a remarkable success in shooting down rockets fired by Gaza-based Hamas. The expensive system was initially the subject of some skepticism; each Israeli missile costs $50,000 or more, just to shoot down an $800 rocket. Since fighting with Hamas began last week, though, “the naysayers now are few,” as the New York Times put it. Israeli officials say it has a success rate of “80 to 90 percent” and has shot down 300 of the unguided projectiles.