K2 "Black Panther" (K2 Black Panther) is a new generation South Korean main battle tank. The machine was developed by the South Korean Agency for Defense Development (Agency for Defense Development, ADD) and Rotem (a division of Hyundai Motors). In the future, the K2 should replace the American M48 tanks in the army and supplement the K1 tank fleet. In 2011, South Korea's Defense Procurement Agency purchased 15 prototype K2 tanks for testing. In 2012, it was reported that full-scale production would start in 2014. The Republic of Korea Armed Forces initially planned to purchase approximately 680 Black Panthers, but plans were reduced to 390 and then to 297 tanks due to a shortage of funds in the defense budget. At a cost of $8.5 million per unit, this tank is one of the most expensive in the world.