SEOUL, April 9 (Korea Bizwire) – Friday’s rollout of a prototype of South Korea’s first homegrown fighter jet after 20 years of hard work marks a watershed moment for the country’s history of national defense and related industries. But multiple challenges still stand in the way of its ultimate success amid partner Indonesia’s seemingly wavering [...]
SEOUL, Sept. 13 (Korea Bizwire) – Prosecutors investigating accounting fraud allegations at South Korea’s sole aircraft manufacturer related to a helicopter project are broadening inquiries into new suspicions that the company may also have cooked the books in connection with a mammoth state project to build fighter jets locally, prosecution officials said Wednesday. The Seoul [...]
SEOUL, Jan. 21 (Korea Bizwire) – South Korea officially kicked off its multi billion-dollar project Thursday to produce homemade fighter jets over the next decade. Under the Korean Fighter Experimental (KF-X) project by the Defense Acquisition Program Administration, contractor airplane maker Korea Aerospace Industries Ltd. (KAI) will come up with six units of a homegrown [...]
SEOUL, Jan. 7 (Korea Bizwire) - South Korea’s sole aircraft manufacturer Korea Aerospace Industries Ltd. (KAI) said Thursday that it has signed a formal deal to jointly develop its next-generation fighter plane with Indonesia. The cost sharing agreement reached in Jakarta between KAI and Indonesia’s defense ministry calls for Jakarta to foot 20 percent of the [...]
SEOUL, Oct. 8 (Korea Bizwire) — South Korea and Indonesia will accelerate their effort in cooperating in developing fighter jets. The Defense Acquisition Program Administration in South Korea signed an agreement with Indonesia’s Ministry of Defense to develop the “Boramae,” or KF-X, fighter jets. The agreement, a follow-up to a contract signed in July 2010, sets [...]