India and South Korea today entered into a five-year defence cooperation accord by signing two memorandums of understandings on sharing of military expertise and technology.

Defence Minister A K Antony and his Korean counterpart Kim Tae-Young signed the two agreements in Seoul during the former's two-day official visit there.

Also Read   Related Stories News Now - Sonia set to be re-elected as Congress president - Shyamal Majumdar: No two-in-one promoters, please - One eye on China, India opens up to Japan, Korea - Hero Honda unveils Super Splendor at Rs 45,950 - Bharti moves to set up telecom towers in Africa - Second submarine line for Mazagon Dock

Also Read   Related Stories News Now - Markets wilt under depreciating Rupee - Jet likely to order 100 planes for $3.75 bn: CAPA - FMCG: Good place to be in a bear market - Unitech denies Blackstone asset sale report - Cautious Asian markets retreat before EU summit More

The two MoUs were signed at the end of nearly 90-minute intensive discussions between the delegations of the two countries, he said.

After the signing of the agreements, Antony said New Delhi would be happy to see the defence industry relationship to be "more than a buyer-seller relationship" and its further evolution into Transfer of Technology, joint production and joint Research and Development.

He expressed the hope that his visit would start a new chapter in the already close relationship between the two nations.

Kim, in his address, said the two MoUs would provide a "win-win scenario" for the two countries in a number of areas.

This was the first-ever visit of an India Defence Minister to South Korea.

Antony is accompanied by a high-level delegation that includes Defence Secretary Pradeep Kumar, Navy Vice Admiral R K Dhowan, Army Lieutenant General K T Parnaik, DRDO's Dr Prahlada and Adviser to Defence Minister Sundaram Krishna.

The first MoU envisaged exchange of defence-related experience and information, mutual exchange and visits by military personnel and experts including civilian staff associated with defence services, military education and training and conduct of military exercises, exchange visits of ships and aircraft, as jointly decided between the two countries, Kar said.

The MoU also provided for cooperation in humanitarian assistance and international peace-keeping activities.

"The MoU will remain valid for a period of five years with provision for its extension by five more years," he said.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets wilt under depreciating Rupee - Jet likely to order 100 planes for $3.75 bn: CAPA - FMCG: Good place to be in a bear market - Unitech denies Blackstone asset sale report - Cautious Asian markets retreat before EU summit

Tags : Defence agreement | Indian defence programme | MOU | A K Antony | defense co-operation   Read Business news in  Advertisements -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  Journey on, We are by Your Side. Click here to know more -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  Learn How One City is Running on FOOD SCRAPS. -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More