Indonesia Resumes Payment for Fighter Development Project
KF-X fighter (photo : ARC Inc)
SEOUL (Yonhap) -- Indonesia resumed its payment for South Korea's fighter development project last month after a yearlong delay, Korea Aerospace Industries Co. (KAI), the country's sole aircraft manufacturer, said Wednesday.
Late last month, Indonesia's defense ministry paid 132 billion won under a 2016 contract to shoulder 20 percent of the development cost for the KF-X project worth 7.9 trillion won (US$7.05 billion) as part of the country's efforts to procure combat aircraft for its own Air Force.
The Southeast Asian country had not made any payments since early 2017, triggering concerns that it could withdraw from the project.
"Through the latest payment, we can dispel worries about Indonesia's potential exit from the project, and we expect the country to actively participate," KAI said in a press release.
South Korea seeks to locally build the new fighter jet to replace its aging fleet of F-4 and F-5 fighters.
Yonhap
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