Indonesia will contribute 600 billion won, or about 439-point-four billion U.S. dollars, to the development of the KF-21 fighter jet as part of a joint project with South Korea under a revised agreement.
The Defense Acquisition Program Administration said Friday that the two sides signed the agreement on the sidelines of the Indo Defense Expo and Forum, held Wednesday and Thursday in Jakarta.
Under the original agreement, signed in January 2016, Indonesia was set to pay one-point-seven trillion won, or 20 percent of the total cost, in return for a prototype aircraft, technology transfers, and the right to produce 48 jets domestically.
But Seoul agreed to lower the amount to 600 billion won in August last year after Jakarta was unable to make the payments.
Though the two sides have reached a final agreement on Indonesia’s contribution, the deadline for the payment and the scope of the technology transfers require further discussion.