South Korea, Peru have agreed on mutual co-operation in Peru’s US$1 billion next-generation light attack aircraft project, Yonhap Agency reported Tuesday.
South Korean President Park Geun-hye said Monday she agreed with her Peruvian counterpart Ollanta Humala on cooperation in Peru's trainer jet project, a move that could raise the prospect of a South Korean defense firm winning a lucrative deal.
The move "is designed to further expand mutual cooperation in high-tech aviation technology," Park said in a joint news conference with Humala after their summit in Peru, the second stop on her four-nation swing to South America.
The comments came as Korea Aerospace Industries Ltd., South Korea's sole aircraft manufacturer, is competing with foreign rivals to win a deal worth about US$1 billion for Peru's next-generation light attack aircraft.
KAI has offered its FA-50 supersonic jets, a light attack variant of the T-50 Golden Eagle supersonic trainer that was developed with US defense firm Lockheed Martin. It is the most-advanced variant of the T-50 family operated by the South Korean Air Force.
In 2012, KAI won a US$210 million deal to provide Peru with 20 turbo-prop basic trainers called the KT-1P. KAI has built and delivered four trainers to Peru while it is helping the South American country assemble 16 others.
Park said she and Humala shared the view that the joint production of the KT-1P is an exemplary model of cooperation. Humala also said the project that involves a technology transfer will improve the capability of Peru's defense industry.