The companies are Electro Optic Systems Holdings Limited and Hyundai-WIA.
Under the agreements signed Hyundai-WIA will initially manufacture at its facilities in South Korea remote weapon systems that currently feature in EOS' product line. New and upgraded RWS products, however, will result from joint development programs to meet market requirements.
"Our partnership with Hyundai-WIA, one of the world's leading companies, will provide Korean and export customers with access to world's best practice in defense technology, product development and military production," said EOS Chief Executive Officer Ben Greene. "Hyundai-WIA and EOS will move quickly to establish RWS production in an existing Hyundai-WIA plant in Korea.
"A key element will be pooling EOS and Hyundai-WIA technologies in product development, quality improvement and production engineering. We expect to achieve more competitive products through these arrangements."
EOS said the partnering agreements with Hyundai are similar to those the company made in 2010 with Northrop Grumman to jointly develop, produce and support RWS for the United States military and certain export markets.
Susan Sarandon 'very excited' about daughter's pregnancy
Interpol investigating stolen passports on missing flight