K2 tanks parade through the street to mark Armed Forces Day in downtown Seoul on Oct. 1. (Yonhap)

The state-run Defense Acquisition Program Administration on Monday announced its bid to make 150 new K2 tanks' power packs -- which comprise a 1,500-horsepower engine and transmission -- fully homegrown.

The tanks with South Korean-made 1,500-horsepower engines and gear shifts will be manufactured by 2028, according to the plan.

A notable change in the manufacturing plan, according to DAPA, is the adoption of a transmission system produced by a South Korean company SNT Dynamics. Currently, K2 tanks have South Korean-made engines and German-made transmissions.

The new power pack narrowly failed to pass the 320-hour durability test -- equivalent to 9,600 kilometers of continuous driving -- stopping after 306 hours of travel. DAPA, however decided to push ahead with the tank mass production plan as the South Korean transmission provider has since come up with additional measures to improve quality.

The agency also said that South Korea will push for missile shield introduction two years earlier than previously scheduled, amid growing missile threats from North Korea.

South Korea's low-altitude missile defense system, which would cost the country 2.95 trillion won ($2.13 billion) in total, is to be ready for deployment by no later than 2033. The project kicked off in 2022.

DAPA said in a statement that South Korea is preparing an "antimissile defense system equivalent to (Israel's) Iron Dome or stronger," adding the adoption of the system will "minimize the damage from North Korea's long-range artillery shells."

DAPA also unveiled a 1.95 trillion won plan through 2031 to acquire more PAC-3 interceptors for the Patriot missile system than previously planned, as well as to improve the launch pads to achieve stronger land-based air defense capabilities in Greater Seoul and areas designated as "important national facilities." Under the previous plan, South Korea planned to spend some 750 billion won through 2027.