After months of uncertainty over Indonesia’s continued involvement in the KF-21 program, the country has reached an agreement with South Korea on the payment it would have to make for the joint fighter jet project.
The agreement, which was reached on Wednesday at a meeting, is of critical importance to both countries as Indonesia is Soth Korea’s largest defense market.
With Indonesia not being able to contribute financially to the project in recent months, there were concerns that Jakarta could default on the deal. As part of the deal, Indonesia has a 20 percent share and will acquire technology know-how, The project aims to mass produce jets as early as 2027.
“Indonesia will make payments over the next five years until 2026, and thirty percent of that would be in-kind transfers,” Korea’s Defense Acquisition Program Administration (DAPA) said. The two countries are expected to discuss, at a later meeting, what goods or assets to use instead of cash.
As per the deal, Korea is expected to produce 120 jets while Indonesia is responsible for making 48 jets. The country will be given one prototype along with the technology know-how.
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