Poongsan to export machine gun bullets to Middle East

South Korean defense firm Poongsan said Thursday it has bagged orders in the Middle East to supply ammunitions worth 95.7 billion won ($77.9 million).

The company will export three types of 50-caliber machine gun bullets to the region by 2021.

The armor-piercing 50-caliber bullet is one of the most powerful rounds of ammunition, typically used for M2 machine guns and K6 heavy machine guns to perforate or penetrate hardened or bullet-resistant targets such as armored fighting vehicles.

“The deal proves the supremacy of Korean defense products, especially its ammunitions portfolio. Poongsan will roll up its sleeves to expand its footprint in the Mideast by launching aggressive export marketing stratergies,” a company official said.

Poongsan declined to comment on details of the countries it has signed a deal with.

By Kim Byung-wook (kbw@heraldcorp.com)