[THE INVESTOR] Firstec has signed a memorandum of understanding with Israel’s UVision on Sept. 16 to develop South Korea’s first smart unmanned aerial vehicle that incorporates a guided missile.

The homegrown aviation defense company will take charge of manufacturing and assembling parts and exclusively sell the short-range lethal aerial loitering system of UVision, which was the first to commercialize the weapon.

“South Korea is a strategic market for us for two main reasons. First, we have identified a need in this market for systems such as our HERO-30, which can effectively meet the complex and evolving threats faced by South Korea. In addition, we see it as a technology leader in the area and as such, a starting point for the entire Asian market,” said UVision CEO Noam Levitt in a statement.

Firstec plans to supply the weapon to the army and special forces, and expects to be the original equipment manufacturer for the next generation weapon.

Established in 1975, Firstec has been supplying aero parts for planes and helicopters to Korea Aerospace Industries.

By Hwang You-mee (glamazon@heraldcorp.com)