Daewoo Precision Industries K3 was the third indigenous firearm developed in Republic of Korea by the Agency for Defense Development, following the Daewoo Precision Industries K1 submachine gun and Daewoo Precision Industries K2 assault rifle. The K3 is inspired by FN Minimi and the United States-issued M249 Squad Automatic Weapon. It is manufactured by Daewoo Precision Industries, current S&T Motiv. The K3 is capable of firing both 5.56x45mm NATO and .223 Remington rounds like the K2 assault rifle, but use of .223 Remington will decrease its effectiveness in performance. The K3 light machine gun entered service since 1989, replacing M60 machine gun from frontline use.