South Korea and Indonesia Redefine KF-21 Fighter Jet Collaboration

South Korea and Indonesia have reached a significant agreement, cutting Indonesia's financial commitment in the KF-21 fighter jet project to 600 billion won ($439 million). This change was announced by South Korea's Defense Acquisition Program Administration (DAPA) on Friday.

Originally, the two countries had collaborated over a decade ago, in a joint project valued at 8.1 trillion won, with Indonesia pledging to cover approximately 1.6 trillion won. The renegotiation sees Jakarta's financial obligation reduced significantly while the countries continue to iron out details regarding payment deadlines and technology transfer.

Indonesia's defense ministry has indicated it is processing the payment of the revised amount. DAPA expects that, once the contributions are settled, the cooperation between the two nations will regain momentum. Further discussions are necessary to finalize the terms, according to South Korean news agency Yonhap.

(With inputs from agencies.)