A U.S. defense industry magazine says the United States and Israel are preparing to hold negotiations to export to South Korea a high-tech system on intercepting ballistic missiles.

Defense News says Boeing and state-owned Israel Aerospace Industries won marketing approval from their respective governments on offering the Arrow 2 ballistic-missile defense system to South Korea as a first, potential export target.

The magazine quoted Roger Krone, president of Boeing Network and Space Systems, as saying that Boeing and its Israeli partners “are working very persistently to be able to provide this phenomenal capability to South Korea, an important U.S. ally.”

The report quoted defense and industry sources in Tel Aviv as saying that India is also being considered a potential export market for the Arrow 2 defense system.