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Shafaq News- Baghdad<\/p>\n
Iraq could lose a $2.7 billion South Korean air-defense contract after Seoul warned it may sell the system to another country unless Baghdad pays the remaining installments, MP Faleh Al-Khazali told Shafaq News on Monday.<\/p>\n
Al-Khazali, head of the parliamentary Montasiroun bloc, which is part of the ruling Shiite Coordination Framework, said Baghdad paid an initial $500 million installment, but funding shortages and the lack of financial allocations delayed the remaining payments, which were due in 2025.<\/p>\n
Read more: <\/a>2026 budget: Iraq confronts unprecedented fiscal strain<\/a> <\/p>\n In November 2025, a government source told Shafaq News that Iraq had contracted<\/a> with South Korea to buy eight air-defense batteries, also warning at the time that the deal could fail if payment was not completed. LIG Nex1 secured the contract with Iraq\u2019s Defense Ministry to export the Cheongung-II medium-range surface-to-air missile defense system, Yonhap News Agency previously reported, describing it as designed to intercept incoming missiles and aircraft.<\/p>\n Read more: <\/a>How US vetoes and Russian limits leave Baghdad exposed<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"2026-07-06T14:05:54+00:00 font Enable Reading Mode A- A A+ Shafaq News- Baghdad Iraq could lose a $2.7 billion South…\n","protected":false},"author":2,"featured_media":76342,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[10069,41306,8634,19141,171,33],"class_list":["post-76341","post","type-post","status-publish","format-standard","has-post-thumbnail","category-korea","tag-air-defense","tag-baghdad-risks-losing-2-7b-korean-air-defense-deal","tag-breaking","tag-iraq","tag-korean","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/76341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=76341"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/76341\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/76342"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=76341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=76341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=76341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}