South Korean defense firm Microinfinity has signed a memorandum of understanding (MOU) to export US$3.7 million worth of receiver parts to the British arm of European missile manufacturer MBDA, the South's state arms procurement agency said Monday. Under the MOU signed with MBDA UK as part of an offset program, Microinfinity will export the parts and also receive technological assistance from the company that manufactures mid-range air-to-air Meteor missiles, according to the Defense Acquisition Program Administration (DAPA). High-cost military contracts between countries usually involve offset programs, where the purchasing government receives additional benefits, such as export deals or technologies in return for the deal. Following the MOU, DAPA is expected to sign an official agreement to purchase Meteor missiles, which are capable of flying at over Mach 4, equivalent to four times the speed of sound and intercepting targets over 200 kilometers away, to equip them on the KF-21 fighter jet currently un der development. In May, a prototype of the KF-21 successfully conducted its first live-fire test with the Meteor missiles, demonstrating its extended range capabilities. Each KF-21 can carry up to four Meteor missiles. DAPA called the latest agreement "meaningful" and said it aims to help more South Korean defense firms export their products via offset programs. Source: Yonhap News Agency