S. KOREA’S FIRST MISSILE EXPORT

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Korea has signed the first deal for exporting its homegrown surface-to-air missile named Cheongung. The buyer is the United Arab Emirates, where President Moon Jae-in is currently visiting. Sources say the deal is worth 4 trillion won. At the Day of Korea event organized at the Dubai Expo, President Moon asked for support for Busan's bid to host the 2030 Expo.

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A missile fired vertically from the ground ignites in midair and soars toward its target. This surface-to-air missile named Cheongung can intercept not only aircraft but also ballistic weapons. The United Arab Emirates, the first stop on President Moon Jae-in's Middle Eastern tour, has decided to import the Korean missile. It's the first domestically developed weapon to be exported overseas. The deal is reportedly worth an estimated 4 trillion won. That's the highest amount among the export deals signed so far by the Korean defense sector. The two nations have also signed an MOU for bilateral cooperation in the defense industry including joint weapons development. The five-day Korea Week has kicked off at the Dubai Expo, the first such event to be held in the Middle East. President Moon visited the Korean and UAE pavilions and watched a K-pop concert. He also asked world leaders for their support for Busan's bid to host the 2030 Expo.

[Soundbite] Moon Jae-in(President) : "I hope we will meet again in 2030 in Busan, the maritime capital of South Korea, and navigate together to ‘Transform our World.’"

At a meeting on promoting cooperation in the hydrogen sector, Moon called for continuing cooperation in the existing energy sector such as petroleum and nuclear power even in the era of carbon neutrality. On Monday Moon will discuss bilateral cooperation in public health. On Tuesday he heads to Saudi Arabia for a two-day state visit.