Korea Aerospace Industries Get US$400 million Contract for T-50 supersonic trainer jets from Indonesia
12:00 AM, May 31, 2011
South Korea signed a contract Wednesday to export its T-50 trainer jets to Indonesia, a government official said, a deal that will mark the first time for the country to export supersonic jets. The state-run aircraft maker Korea Aerospace Industries (KAI) signed the deal in Jakarta with Indonesia's defense ministry, the official told Yonhap News Agency by phone. The deal calls for exporting 16 T-50 jets for about US$400 million, sources said. The contract will take effect as soon as Indonesia's finance ministry and South Korea's Export-Import Bank conclude financial negotiations, the official said. Delivery is expected in 2013, he said. Wednesday's signing came about a month after KAI was selected as the preferred bidder for Indonesia's trainer jet project on April 12. Since then, the two sides have negotiated on terms of a contract. The contract marks South Korea's first export of the T-50 "Golden Eagle." It is expected to have positive effects on the country's efforts to export the aircraft to other nations, such as Israel, the United States, Poland, India and the United Arab Emirates. South Korea first unveiled the T-50 in 2005 after KAI developed the supersonic jet jointly with U.S. defense giant Lockheed Martin, making the country the world's 12th supersonic jet producer.
Seoul has tried to export the jet to Indonesia as Jakarta plans to replace its aging Hawk Mk-53 trainer jets that are scheduled to be decommissioned this year. Indonesian media had reported earlier this year that the country's air force will purchase 16 T-50 jets.
Korea Aerospace Industries announced Tuesday that it had signed an export contract for six units of the T-50i, an introductory tactical trainer, with the Indonesian Ministry of Defense (I-MoD).
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