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At the handover ceremony, to be held Thursday local Peru time, eight of South Korea's aged A-37B Dragonfly jets will be transferred to the Peruvian government, as the (South) Korean Air Force grounded the aircrafts due to maintenance budget constraints, according to ministry officials.
"We hope for increased procurement exchanges between the two countries after this deal," the ministry said in a statement.
The A-37B aircrafts, which were mainly used for acrobatic flight training, have been brought in to South Korea from the United States in the 1970s, and were discharged from all military services in 1997, the statement added.
South Korea and Peru established diplomatic ties in 1963, and the two countries have been working on boosting bilateral economic cooperation as the South Korean government said early that they are seeking to finalize a free trade deal with Peru within this year.