The government has approved a plan to procure Standard Missile-6(SM-6) surface-to-air interceptors manufactured by Raytheon Technologies Corporation to be installed on the Navy's Aegis destroyers.

The decision to spend 760 billion won on the purchase from the U.S.-based firm between 2023 and 2031 was made during a meeting of the Defense Project Promotion Committee on Tuesday.

The SM-6 has a maximum range of 460 kilometers, more than twice that of the Navy's SM-2 interceptors that lack the capability to intercept ballistic missiles.

The Navy plans to install the SM-6 on three Aegis-equipped KDX-III destroyers set to be deployed in phases starting in 2024.

The latest decision follows a series of North Korean provocations this year, including the testing of an intercontinental ballistic missile on March 24.