South Korea is discussing financial terms and other responsibilities with Indonesia for their partnership to produce the Korean Fighter Experimental (KF-X) project.
South Korea is in the “final stage” of negotiations with Indonesia over their partnership on a local fighter jet development program and the results will possibly come early next week, the defense procurement agency said yesterday as quoted by Yonhap news.
Kim Si-cheol, spokesman for the Defense Acquisition Program Administration said at a press briefing that "The result is possible for early next week."
Indonesia and South Korea entered into a preliminary agreement last month under which the former will bear 20 per cent of the development cost for the KF-X project in return for 50 aircraft. The project is expected to fructify by 2025.
Indonesian media has reported earlier that the total cost to Jakarta for its share KF-X project and the 50 aircraft would be in the region of US$1.5-2 billion.
Seoul roped in Jakarta for the project after the U.S. refused to approve the transfer of four key fighter jet technologies out of 25 that U.S.-based defense firm Lockheed Martin had offered in an offset deal linked to South Korea's purchase of 40 F-35 Lightning II jets last year.
For the transfer of the remaining 21 technologies, South Korea is currently in discussions with the U.S. firm in Seoul, Kim said, according to Yonhap.
(DefenseWorld)
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