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Monday, October 06, 2014

Indonesia to co-develop $8 bln South Korea fighter jet project

KFX-E Korean Aerospace IndustriesSouth Korea's arms procurement agency said on Monday that Indonesia had agreed to pay 20 percent of the development costs of a mid-level fighter jet programme that some analysts said could cost up to $8 billion.

The Defense Acquisition Program Administration (DAPA) said in a statement that it signed a basic agreement to develop the "KF-X" or "Boramae" fighter jet with the Indonesian defense ministry.

The jets, to be delivered from 2025, are expected to be developed with the help of Lockheed Martin as part of an offset agreement.

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