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 Tico Austria and Poland. It was also exported to Latin America where it also was named Daewoo Fino for some markets. It was especially popular in Peru, where it was one of the most popular car models used for taxi services. Daewoo expanded at the beginning of 1995, but the Tico was never sold in any of these markets, although its successor, the Matiz, was launched there in 1998, and went on to be a sales success. Over its years of production, the Tico underwent major modifications to its specifications, mostly to the engine. Originally equipped with a carburetor and producing