Indonesia has indicated it wants to re-negotiate terms of payment for its participation in the joint KFX/IFX fighter jet project with South Korea.
South Korea is developing the KF-X project as a successor to its F-16 aircraft and has roped in Indonesia to share the development cost in return for a fixed number of aircraft and technology. The participation is expected to cost Indonesia US$1.3 billion.
Indonesian Investment Coordinating Board (BKPM) head Thomas Lembong stressed that renegotiations for a joint jet fighter development project with South Korea were aimed at easing the burden on the state budget amid uncertainty in the global economy, the Jakarta Post reported.
Thomas said that while renegotiations were under way, Indonesia would disburse funds for the project to assure that Indonesia was committed to proceeding.
“We want to renegotiate the terms of payment,” Thomas said after a meeting at the Office of the Coordinating Political, Security and Legal Affairs Minister in Jakarta on Friday.
Minister Wiranto said it was decided in the meeting that renegotiations would be sought with South Korea on the development of the Korean Fighter Xperimental /Indonesia Fighter Xperimental (KFX/IFX), the funding sources for which would be the state budgets of the two countries.
Thomas said Indonesia was seeking renegotiations because under the current agreement, Indonesia would spend hundreds of trillion of rupiah on the project.
According to Thomas, South Korea had agreed to renegotiations during President Joko “Jokowi” Widodo visit to the country. However, South Korea required Indonesia to complete renegotiations within one year.
The House of Representatives has approved the project, for which Indonesia has agreed to contribute 20 percent of its total needed investment. Indonesia has spent US$ 10 million on the research stage of the project since 2016.
South Korea and Indonesia have opened a joint office to carry out consultations in the KF-X fighter aircraft development project. The office has been set up in Sacheon, 437 kilometers southeast of Seoul,
South Korea and Indonesia have signed a US $1.3 billion deal to jointly develop the next generation fighter jet KF-X for Seoul amid rising threats from the nuclear-armed North Korea
South Koreas Defense Acquisition Program Administration (DAPA) and Korea Aerospace Industries (KAI) have formally signed an agreement to develop KF-X fighter aircraft. According to the agreement signed today, DAPA will finance 60 per cent of the 8 trillion won (US$6
Indonesia and South Korea signed an agreement Monday for the second phase of the joint development of the Korean Fighter Experimental/Indonesian Fighter (KFX / IFX) aircraft, local media reported. The development cooperation program is in three phases, including the technology development (TD), engineering and manufacturing development (EMD), as well as the production development (PD) phase
The design of the Korean Fighter Xperiment/Indonesia Fighter Xperiment (KFX/IFX) under cooperation of Indonesia and South Korea will be completed by mid-2019 and currently work on the project has reached 20 percent. "Until now the development process has been reaching 20 percent
Indonesian PT Dirgantara (PT DI) is preparing to sign a contract with Senegal and Côte d'Ivoire for the purchase of CN 235 aircraft. “Each country will buy one CN235-220 aircraft,” PT DI sales division head Ibnu Bintarto was quoted as saying by
Indonesia has ran up an arrears of 230 billion won (US$200 million) by skipping milestone payments as part of its participation in the South Korean-led KF-X project to develop a new fighter jet for use of the air forces of both countries. Further Indonesia has ‘stayed away from the aircraft development program since the latter half of 2017, calling for the renegotiation on the terms of contract, Seoul's arms agency confirmed Monday
Ansat Helicopter Certified To Fly At 3,500 metres By Rosaviatsiya
Tiruchi Assault Rifle Handed Over To Indian Border Security Force
US-Pakistan Military Relations Seen Thawing as Washington sends Fighter Jets for Joint...
Boeing Unmanned Passenger Aircraft Completes First Flight
US Blocks Sale of Sukhoi Superjet Aircraft to Iran
Gripen Prospects Brighten as Croatia Threatens Israeli Used F-16 Deal Cancellation
Chinese Aircraft Maker Issues RFP for Stealth Aircraft’s Target Detection Systems
South Korean Air Defence System Beat Russian Tunguska-M1, Pantsir in Indian Trials
The MiG-29, one of Russias most exported military jet has been upgraded in India that expands its capabilities from an...
Russian fifth generation fighter aircraft (FGFA) Su-57 will for the first time perform flights during the ARMY 2018 event near...
The American-made Patriot and Russian S-400 Triumf air defense systems are currently hogging international orders despite their price tags running...
The Russian ministry of defense on Thursday published a series of videos showcasing the production, deployment and installation and testing...
The market for fighter jets in countries which are expected to have open competitions is estimated at US$50 billion to...
The Indian MoD's plan to purchase 110 fighter jets may be its costliest fighter jet buy ever with the entire...