This handout photo taken on Aug 13, 2021 and provided by South Korea's Defense Ministry on Sept 7, 2021 shows the locally-developed, diesel-powered 3,000-ton Dosan Ahn Chang-ho submarine during its commissioning ceremony on the southern island of Geoje, South Korea. (HANDOUT / SOUTH KOREAN DEFENSE MINISTRY / AFP)

SEOUL - South Korea will launch its third homegrown 3,000-ton submarine equipped with ballistic missiles, the Navy and the Defense Acquisition Program Administration (DAPA) said Tuesday.

The first Dosan Ahn Chang-ho submarine was launched in 2018 and deployed in August, while the second Ahn Mu submarine was launched in November last year and would be delivered to the Navy next year

ALSO READ: S. Korea says it is developing more powerful missiles

A launch ceremony for the 3,000-ton-class Shin Chae-ho submarine, the third and the final of three Changbogo-III Batch-I submarines, will be carried out later in the day at the shipyard of Hyundai Heavy Industries in the southeast city of Ulsan.

Under the 3.1-trillion-won ($2.8-billion) project launched in 2007, South Korea has built submarines with its indigenous technologies.

The first Dosan Ahn Chang-ho submarine was launched in 2018 and deployed in August, while the second Ahn Mu submarine was launched in November last year and would be delivered to the Navy next year.

The third submarine would be delivered to the Navy in 2024 after sea trial. All of the three submarines are capable of firing submarine-launched ballistic missiles (SLBM) with six vertical launch tubes.

The South Korean military successfully test-fired SLBM from the Dosan Ahn Chang-ho submarine earlier this month.

The SLBM was known as "Hyunmoo 4-4" as it was developed based on the technology of the country's Hyunmoo-2B ballistic missile with a range of about 500 km.