The Indonesian parliament approved a 1.07 trillion Rupiah (US$78.6 million) budget Friday for investment in South Korea's fighter jet project called KF-X.
This amount to being the first batch of funds for joint development of a new South Korean fighter jet with stealth capabilities, Indonesian and S.Korean officials said were quoted as saying in the Korean media.
The funds approved is the first of 1.7 trillion won ($1.49 billion) the Indonesian government has agreed to invest in the 8.4 trillion won project in exchange for some of the new technologies to be developed besides sharing in the prototype development.
The South Korean government will be bearing 60 percent of the total project cost with the rest set to be raised by local firms, officials from the defense procurement office of Korea told Yonnhap News.
The move by the Indonesian parliament came one day after South Korea's own parliamentary subcommittee approved a 67 billion won budget for the fighter jet development program. The South Korean budget is still subject to approval by the parliament's defense committee and the parliament itself.
Following the U.S. State Department refusal to provide at least four out of 25 key technologies considered vital to the development of a fighter jet with stealth capabilities, citing International Traffic in Arms Regulations, S.Korea vowed to develop these technologies using its own R & D expertise.
S.Korea plans to build 120 combat jets by 2025 for use by its own air force as well as its new partner, Indonesia.
The US and South Korea have agreed to establish a consultative forum to discuss defense technology co-operation including the experimental KF-X program. The Pentagon said in a statement that US Defense Secretary Ash Carter and South Korean Defense Minister Han Min-koo agreed to "establish an interagency working group to enhance cooperation on defense technology issues," but the statement made no mention of the technology transfer for the fighter jet project
South Korea and Indonesia may sign an industrial engagement agreement for the joint development of Korean next generation fighter aircraft later this month. Earlier this week, South Korean government decided to develop some of its own KF-X fighters with some help from outside after the US denied did not allow exports of four major technologies promised for the South Korean project in a decision made in April
South Korea has ordered an investigation in the US denial of technology for the nations multi-billion dollar KF-X fighter jet project. The US did not allow exports of four major technologies promised for the South Korean project in a decision made in April
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
Saab has received an order for support of algorithm development and evaluation of airborne AESA radar for South Koreas indigenous KF-X fighter jet. The radar development programme is led by the Korean Agency for Defence Development (ADD) and Saab will work in cooperation with ADD and its contractual partner LIG Nex1
South Korea will complete the development of the first prototype of an advanced radar system for country's indigenous fighter jets by 2020, the state arms procurement agency said Wednesday. The state-run Agency for Defense Development has begun the process of developing the active electronically scanned array radars for some 120 KF-X fighter jets that South Korea seeks to develop by the mid-2020s, the Defense Acquisition Program Administration told Yonhap
The South Korean government is under pressure to restart its fighter jet program KF-X and cancel the purchase of F-35 stealth fighters if needed. Growing uncertainties to procure technology transfer from the US is stated as a major reason for demands from some politicians and critics to restart the program entirely to develop a fighter jet all by itself, Korea Times reported Monday
Amid confusion over denial of four critical technology transfers for the KF-X program US has promised to support Republic of Korea (ROK) in its stealth fighter program. “The U
Korea Aerospace Industries (KAI) and the Indonesia government have signed an agreement yesterday to jointly develop a new South Korean fighter jet, the KF-X, which will be a competitor to the Lockheed Martin F-16 in the global market. The agreement, described as ‘tentative by the Korean media wa signed in Seoul Yesterday
Lockheed Wins US Navy's Super Hornet IR Search and Track System Contract
General Dynamics To Support Saudi's SLAM-ER Weapon System
Raytheon Wins $80M Lightweight Torpedo Contract for US, India, 4 Others
Raytheon to Replace Solid State Modules for US Navy's Missile Warning System,...
Israel to Modernise Ukrainian MiG-29 Jets for $440M
MiG-35 Shows Off New AESA Radar at MAKS 2019
Russian S-300s, S-400s Fail to Detect Israeli F-35s Flying Over Syria: Reports...
Russia Unveils its Biggest Ever Drone to Compete with US Global Hawk
Artificial Intelligence (AI) is rapidly permeating the defence industry to aid and improve human decision-making
Upgrade of Russias Sukhoi Su-30SM fighters to equip them with armaments, radar, sensors and engines from the more powerful Su-35...
US companies sanctioned by China for supplying weapons to Taiwan may be denied rare earth elements (REEs), which have critical...
While the US F-35 stealth aircraft has become one the fastest selling fighter jets in the world aircraft market, thanks...
Russian state-run Almaz-Antey has released additional data on its latest export-version of Buk-M3 Viking air defense missile system (ADMS)
The MiG-29, one of Russias most exported military jet has been upgraded in India that expands its capabilities from an...