The Pauk class is the NATO reporting name for a class of small patrol corvettes built for the Soviet Navy and export customers between 1977 and 1989. The Russian designation is Project 12412 Molniya-2. These ships are designed for coastal patrol and inshore anti-submarine warfare. The design is the patrol version of the Tarantul class which is designated Project 12411, but is slightly longer and has diesel engines.

The hull is built of special low-alloy, high-strength steel, and the superstructure is constructed of marine-grade aluminum alloy. The semi-planing hull has been designed with emphasis on good seagoing capabilities for those water areas that are its primary mission focus. Employment of the weapon system is promised in conditions up to and including Sea State 4, and safe navigation is guaranteed up to and including Sea State 8.

The ship are armed with single AK-176 76mm gun at the bow (controlled by the MR-123 radar), and single AK-630M 30mm Gatling gun are installed at the rear end of the superstructure, normally controlled by the optical backup system, designated Kolonka. For firing at underwater targets, torpedoes SET-40, SET-72 are used, which are marching in a torpedo launcher located in the middle of the ship and consisting of four single torpedo tubes. To destroy underwater targets with depth charges, the ship has a RBU-1200 rocket launcher, consisting of two launchers with ammunition of 30 RGB-12 bombs, in the bow.

ASW corvette MPK-124 laid down 21 April 1984 at the Yaroslavl Shipyard (yard No.513), launched 17 June 1985, commissioned 18 December 1985.

MPK-124 was excluded from the lists of the Black Sea Fleet on 04 February 1992 and transferred to Bulgaria.