SEOUL: Indonesia has demanded new terms from South Korea on a joint multi-billion-dollar jet fighter development project, as Seoul said on Monday (Oct…
SEOUL: Indonesia has demanded new terms from South Korea on a joint multi-billion-dollar jet fighter development project, as Seoul said on Monday (Oct 22) that Jakarta has not paid its share and is US$200 million in arrears.
The Korean Fighter Experimental (KF-X) project is an 8-trillion-won (US$7-billion) project to develop and build a fleet of 120 “indigenous” next-generation multi-role warplanes to replace Seoul’s ageing US F-4 and F-5 fighters.
Korea Aerospace Industries and US aerospace giant Lockheed Martin are the main contractors on the project, with US conglomerate General Electric to supply the engines.
Jakarta signed a deal in 2016 to become the project’s junior partner, covering 20 per cent of the costs and receiving one prototype plane, with up to 100 Indonesian workers taking part in the development and production process.
