President Moon Jae-in delivers speech during unveiling of KF-21 Boramae prototype at the KAI Facility in Sacheon, in March 2021. @KAI Via South Korean media.
South Korea will conclude negotiations over Indonesia’s overdue of payments in their joint project to build the KF-X fighter jet, in November.
Indonesia had initially agreed to shoulder 20% of the 8.8 trillion won ($7.3 billion), the new fighter’s development cost. But it later stopped making payments, with the amount of the overdue payments currently standing at 704.1 billion won ($586 million).
The working-level talks between the two countries deal with a range of issues, including how and when Indonesia will make the overdue payments. The sixth round of the talks is slated for later this year, according to the DAPA.