South Korea approved a project to update its critical surface-to-air missile interceptors on Friday, the official arms procurement agency said, after North Korea test-fired an intercontinental ballistic missile (ICBM) for the first time since 2017.

As per reports, the Defense Proposal Promotion Committee approved a project worth 720 billion won ($591 million) to modernise the Cheolmae II interceptors from next year through 2029. The goal of the project is to improve the missiles so that they can intercept both planes and ballistic missiles at altitudes below 20 kilometres. The current interceptors, which will be modernised, can only shoot down planes.

The committee also approved a 690 billion won project to develop and produce ship-to-air guided missiles from next year to 2036, as well as a 230 billion won plan to build long-range air-to-ground precision weapons by 2028. A 710 billion won scheme to buy foreign-made transport planes by 2026 was also approved by the committee.

The A400M from Airbus, the C390 from Embraer in Brazil, and the C130J from Lockheed Martin in the United States are scheduled to compete for this project. Pyongyang's launch on Thursday was its 12th this year, breaking a self-imposed moratorium on nuclear and long-range missile testing.

Pyongyang proclaimed a moratorium on nuclear and ICBM testing in April 2018, following Seoul-mediated negotiations that culminated to the first-ever US-North Korean meeting in Singapore in June of that year.

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