Paras Defence and Space Technologies (NSE:PARAS, BOM:543367) has entered into a memorandum of understanding with South Korea's Green Optics, according to a Wednesday filing to the Indian stock exchanges.

The MOU involves the design and manufacture of optics and optical systems for space, defence, and other applications, the filing said.

Under the pact, the two companies will establish a framework for joint development, manufacturing, and business development in the areas of optics and optical systems for space and defense applications.

The company's shares were up over 8% in recent trade.