S.Korea says fighter jet deal with Indonesia is on

22/10/2018 12:03

        South Korea said on Monday a project to develop a fighter jet with Indonesia was on track, and it will negotiate a way for Indonesia to pay its contribution, of which about $200 million is unpaid. Indonesia and South Korea agreed in 2014 to develop the "KF-X" fighter jet. The project is estimated to be worth about $7.9 billion, and Indonesia had agreed to pay 20 percent of the development costs, but a senior Indonesia official said on Friday it was seeking "lighter" financial terms. South Korea's arms procurement agency Defense Acquisition Program Administration (DAPA) told a press briefing the project was on track. "During the South Korea-Indonesia summit in September, it was agreed to continue developing the KF-X," the spokesman said. "About the contribution, we plan to negotiate additionally." The spokesman confirmed that Indonesia's unpaid contribution was about 230 billion won ($203.14 million), from between the second half of 2
        017 and the first half of 2018. Indonesia's request on the financial terms of the deal comes as it is trying to support the rupiah, which is trading near a 20-year-low, and to reduce the use of foreign exchange reserves.