South Korea's defense ministry says it has signed a $400 million contract to help Turkey develop a new main battle tank, a first tank technology export contract for the peninsula. Turkey is a regular customer of South Korean military equipment.

According to the terms of the contract signed earlier this week in the Turkish capital, Ankara, South Korea will help Turkey develop a new tank between now and 2015. The technology transfer segment of the contract is worth $330 million and the production of four prototypes is worth $70 million. Turkey says it intends to build 200 of the new tanks.