Daewoo Precision Industries K2 is performing field tests. After the tests are complete, the K2A will be mass-produced and will join the armed forces in 2015. Additional production of K2 rifles will remove the M16A1 from active service completely by 2017. Daewoo Precision Industries K2 Daewoo Precision Industries K2 assault rifle was developed by the South Korean Agency for Defense Development and manufactured by S&T Motiv (formerly Daewoo Precision Industries). It is currently the standard service rifle of the Republic of Korea Armed Forces. Shoulder-fired and gas-operated, the K2 is capable of firing both 5.56×45mm NATO and .223 Remington ammunition. The K2 supplanted the
Daewoo Motors parts for export, such as engines and gearboxes to GM Daewoo and to other companies. The factory was acquired by the Romanian government and sold to Ford in 2007 (the official agreement was signed on 21 March 2008). The production of Daewoo models was stopped in May 2008, and Daewoo Automobile Romania became Ford Romania. Daewoo also invested into Poland's Fabryka Samochodów Osobowych (FSO) in 1995, forming a joint venture called Daewoo-FSO, for the assembly of the Matiz city car, a successor of the Tico, that was very popular in the Eastern European market. Since January 2005, FSO began to