Two South Korean firms and government of Philippines will jointly manufacture defense products that includes bulletproof vests, helmets and magazines in Bataan province, north of Manila.
A ceremony was organised Friday to mark the construction of factories for the production of defense hardware. The construction is the Philippines' first project to build the country's independent military capabilities, Defense Acquisition Program Administration (DAPA) said.
"DAPA will cooperate in the efforts to help South Korean firms participate in various self-defense and military modernization projects that the Philippines has been pushing for," a senior DAPA official was quoted as saying in a press release.
In January this year, Boo Heung Precision Machinery inked $15 million contract to build a factory to produce magazines.
And in May 2017, Samyang Comtech signed a contract worth $148 million with Manila to build a factory for the production of bulletproof vests and helmets.