Doosan Infracore Splits Off Defense Business

The Company’s defense business is engaged in the production of IFVs, anti-air/guided weapons and precision equipment, and the amount of backlog of existing orders stands at 1.7 trillion won. The defense business is expected to make continued growth. Just last month, it signed a contract with DAPA (Defense Acquisition Program Administration) for the supply of 457.8 billion worth of K21 IFVs (Infantry Fighting Vehicles) that compare favorably with those made in more industrialized countries in terms of overall performance and price. It plans to export them to the Middle East, Southeast Asia and Latin America.