Cheon Wa Dae has signed a five-year lease with Korean Air for a Boeing 747-400 jet to be used during overseas trips by President Lee Myung-bak starting next month, the presidential office said Friday.

Previously, the President has alternated between chartered planes from Korean Air and Asiana Airlines for overseas travels.

The Air Force will oversee the operation of the chartered plane, while Korean Air will provide crew members and other services. The plane will undergo remodeling.

The Boeing 747-400 is a wide-body commercial airliner, and is one of the most recent and best-selling versions of the Boeing 747 aircraft.

Plans are underway to purchase a more state-of-the-art presidential plane in 2014.

jhdo@koreatimes.co.kr