Korea Aerospace Industries (KAI) is in talks with nine countries to export its trainer aircraft.
In a press meeting, KAI President and Chief Executive Kim Jo-won said talks with Botswana and Argentina are at an "advanced stage" and "good results" are expected later this year or early next year, Yonhap reported Friday.
"As the countries with which KAI are in talks are developing economies, they require financial loans from South Korean banks in order to place the aircraft order with KAI," Kim said.
KAI plans to ask the Korea Export-Import Bank of Korea and the Korea Trade Insurance Corporation to extend a loan to help those countries purchase Korean-made trainers, he said.
The company exported a total of 145 trainer planes -- made up of the turboprop KT-1 basic trainer and the supersonic T-50 advanced jet to countries in Europe and emerging markets in Asia, Africa, Latin America and the Middle East. The total value of sales has reached US$3.7 billion so far.