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| Korea Aerospace Industries (KAI) President and CEO Ha Sung-yong, third from right, poses with other participants at the Ministry of Defense of Indonesia in Jakarta, Thursday, after signing contracts with Indonesia's defense ministry and the state-run defense firm PT Dirgantara Indonesia (PTDI) to jointly develop Korea's fighter jet. Fifth from right is Defense Acquisition Program Administration Minister Chang Myoung-jin, sixth from left is Indonesian Defense Minister Ryamizard Ryacudu and second from left is PTDI President Budi Santoso. / Courtesy of KAI |
By Jun Ji-hye
Korea Aerospace Industries (KAI) signed two separate contracts with the Indonesian defense ministry and the country's state-run defense firm PT Dirgantara Indonesia (PTDI) in Jakarta, Thursday, to jointly develop Korea's indigenous fighter jets.
Under the deals, the Southeast Asian country will pay 20 percent of the 8.5 trillion won cost for the so-called KF-X project and participate in aircraft development.
The KF-X project is aimed at developing indigenous fighter jets by the first half of the year 2026 to replace the Air Force's aging fleet of F-4s and F-5s.
KAI said the Indonesian government will invest some 1.6 trillion won in the project, and the Indonesian defense firm will participate in the process of design and component production. The country would also acquire one prototype and technology data afterward.
The deals came after KAI signed a contract with Korea's Defense Acquisition Program Administration (DAPA) to develop the fighter jets last month.
The deal with the Indonesian defense ministry was signed between KAI President and CEO Ha Sung-yong and Timbul Siahaan, director general for defense potential at Indonesia's Ministry of Defense. The contract with PTDI was signed between Ha and PTDI President Director Budi Santoso.
"DAPA Minister Chang Myoung-jin, Korean Ambassador to Indonesia Cho Tai-young and Indonesian Defense Minister Ryamizard Ryacudu also attended the signing ceremony," the release said.
The government plans to spend 8.5 trillion won in the KF-X project and an additional 10 trillion won to produce 120 jets.
KAI said in a release, "By singing these contracts, we have now prepared everything to undertake the KF-X project."
For his part, KAI President and CEO Ha said, "We will do our best to succeed in the project and promote the national interest of both countries in defense, economy and industry areas."
Follow Jun Ji-hye on Twitter @TheKopJihye
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