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| One of several possible KF-X designs |
By Lee Tae-hoon
A European consortium of four aerospace and defense companies will likely walk away from its promise of investing 20 percent of the cost for a Korea-initiated project to develop a new multirole fighter, industry sources said Thursday.
The European Aeronautic Defense and Space Company N.V. (EADS) reportedly made the pledge as Korea hinted that financial and technology contributions would favorably affect the separate selection of a foreign vender to supply 60 advanced fighter jets to Korea for 8.29 trillion won ($7.3 billion).
According to a 2011 report by Korea National Defense University, EADS expressed its intent to invest up to 20 percent or $1 billion into the KF-X program, a fighter development program.
Read the full story at The Korea Times