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| A Model of the proposed KFX Fighter (File Photo) |
South Korea plans to form an inter-agency team to handle the country's largest-ever acquisition project aimed at developing an indigenous fighter jet, officials here said Wednesday, which is already facing daunting challenges on the budget and technology transfer fronts, unveiled today Korean newspaper Yonhap.
Seoul's arms procurement agency is trying to speed up the 8.67 trillion won ($7.84 billion) project, more than 10 years behind schedule. On Tuesday, it selected Korea Aerospace Industries, the country's sole aircraft maker, as the preferred bidder.
Codenamed KF-X (Korean Fighter Experimental), the project calls for Seoul to develop its own fighter jet of the F-16 class to replace the aging fleet of F-4s and F-5s.
Some 120 jets are to be put into service starting around 2025, with the additional production cost estimated at 9.3 trillion won, according to the Defense Acquisition Program Administration.
Read the full story at Air Recognition