Indonesia Approves US$78.6 million Investment in S.Korean KF-X Jet Project

  • Our Bureau
  • 06:58 AM, October 31, 2015
  • 3101

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.

Also Read

US, S. Korea 'Consultative Forum' For Tech Cooperation In KF-X Jet Program

October 16, 2015 @ 09:02 AM

South Korea, Indonesia Likely To Sign Accord For Joint Development Of KF-X...

October 7, 2015 @ 04:48 AM

South Korea Orders Investigation In US Technology Denial For KF-X Fighter Jet...

September 25, 2015 @ 06:44 AM

Concerns Over South Korean KF-X Jet project As Indonesia Skips Milestone Payments

October 22, 2018 @ 10:08 AM

Saab to Support S Korean KF-X Fighter Jet’s AESA Radar Development

December 23, 2017 @ 12:07 PM

South Korea To Develop AESA Radar For KF-X Jets By 2020

August 10, 2016 @ 07:29 AM

S.Korean Government Under Pressure To Restart KF-X Fighter Program From Scratch

December 7, 2015 @ 02:28 PM

US To Support S. Korea’s KF-X Stealth Fighter Program Amid Confusion On...

December 3, 2015 @ 07:51 AM

Korea, Indonesia Sign Agreement To Develop F-16 Aircraft Competitor

November 23, 2015 @ 08:55 AM
FEATURES/INTERVIEWS