Seoul, Mar 25 (IANS): South Korea on Friday approved a project to upgrade its key surface-to-air missile interceptors after North Korea test-fired an intercontinental ballistic missile (ICBM) for the first time since 2017, the state arms procurement agency said.

The Defense Project Promotion Committee endorsed the project worth 720 billion won ($591 million) to upgrade the Cheolmae II interceptors from next year through 2029, Yonhap News Agency reported.

The project seeks to upgrade the missiles to enable them to intercept both aircraft and ballistic missiles at altitudes below 20 km.

The existing interceptors to be upgraded can only shoot down aircraft.

The committee also approved a 690 billion won project to develop and manufacture ship-to-air guided missiles from next year through 2036 and a 230 billion scheme to develop long-range air-to-ground weapons for precision strikes by 2028.

In addition, the committee endorsed a 710 billion won project to purchase foreign-made transport planes by 2026.

For this project, the European aircraft maker Airbus' A400M, the Brazilian company Embraer's C390 and the US defence firm Lockheed Martin's C130J are expected to compete.

Thursday's launch was Pyongyang's 12th show of force this year, ending its self-imposed moratorium on nuclear and long-range missile testing.

In April 2018, Pyongyang declared a moratorium on nuclear and ICBM tests amid Seoul-brokered diplomacy that led to the first-ever summit between the US and the North in Singapore in June of the same year.