South Korea has launched a project to create its own air defense system, which will be similar to the Israeli "Iron Dome" system, reports Focus.
This move is aimed at strengthening the country's defense capabilities against artillery threats from North Korea, the Yonhap news agency reported.
Investments for the system
According to official information from the South Korean government, the project will require an investment of 479.8 billion won (about 329 million dollars) by 2028. The funds will be used to develop a low-altitude missile defense system.
Protection of key military sites
The new system will provide protection for important military facilities that could be subject to attacks by North Korea. The main participants in the project will be the state-owned Defense Development Agency, as well as leading defense companies, including LIG Nex1 Co, Hanwha Aerospace Co and Hanwha Systems Co.