South Korean President Yoon Suk Yeol and Peruvian President Dina Boluarte signed a joint declaration during their summit on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum in Lima.
"Defense and defense industry cooperation has become a milestone in developing the comprehensive strategic partnership between our two countries," the leaders said in the statement. They added that it would "contribute to strengthening Peru's defense industry capabilities."
The leaders witnessed the signing of multiple agreements, including a memorandum of understanding (MOU) between Hyundai Heavy Industries and Peru's state-owned shipyard, SIMA, for naval vessel co-development.
Hyundai Rotem and Army Weapons and Ammunition Factory (FAME) signed an accord for military equipment cooperation, while Korea Aerospace Industries and Peru's Peru's state-run aviation agency, SEMAN, inked an MOU for the joint production of KF-21 fighter jet components.
The two countries also signed an MOU on critical minerals cooperation, focusing on supply chain information exchange, joint geological surveys, and technical collaboration.
Peru ranks second globally in reserves of copper, silver, and selenium, and fourth in zinc.
The leaders also discussed infrastructure projects, with South Korea seeking expanded participation in Peru's major public works, including subway and highway construction.
South Korean companies are already involved in the construction of Peru's Chinchero International Airport.
On North Korea, both leaders condemned its nuclear tests and missile launches as threats to global non-proliferation efforts and international security.
They called for the "complete, verifiable, and irreversible denuclearization" of North Korea and expressed deep concern over its human rights situation.