Iraq is set to buy South Korea's homegrown medium-range, surface-to-air missile defense system, called Cheongung-II, with a deal expected to be concluded next week, according to Iraqi media reports Thursday.

The reports said that Iraq's defense ministry is expected to sign a US$2.5 billion contract with Korean defense firms to purchase eight units of the Cheongung-II system, which is designed to defend against aircraft, cruise missiles and ballistic missiles.

The decision is part of Iraq's effort to bolster its air defense capabilities, the reports added.

The upcoming deal came after Defense Minister Thabet Muhammad Al-Abbasi met with officials from Korean arms companies, including LIG Nex1 Co., during his visit to Seoul in March.

If signed, this will be the third export contract for the Cheongung-II system, which is at the center of South Korea's missile defense strategy, designed to intercept incoming missiles and aircraft, primarily as a safeguard against threats from North Korea.

Previous deals were made with the United Arab Emirates and Saudi Arabia.

Its missile and integrated system are produced by LIG NexOne, with the radar provided by Hanwha Systems Co., and the launchers and vehicles manufactured by Hanwha Aerospace Co. (Yonhap)