Korean Information Service, Korea has secured royalties for the intellectual property rights on a computerized military communication system from the United States, defense officials said Wednesday (April 18).
After two years of intense negotiations, the U.S. has promised to pay $2.37 million in royalties for the system, setting a precedent for Korea to receive arms-related compensation from the U.S. government, according to the officials.
Korea invested $7.27 million in 2002 to develop its own communication software for the multiple launch rocket system imported from the U.S. in a government-to-government contract dubbed “Foreign Military Sales.”
The U.S. included the software in a package of rockets and launch pads, and sold it to Britain in 2005.
“It is meaningful that we persuaded the U.S. to pay the compensation via persistent negotiations, regardless of the amount of the money,” Na Sung-hoo, director of counterfire project team at the Defense Acquisition Program Administration, told reporters.
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