logo
S. Korea, Indonesia reaffirm cooperation for joint fighter jet project

S. Korea, Indonesia reaffirm cooperation for joint fighter jet project

Korea Herald24-03-2025
South Korean and Indonesian defense officials have reaffirmed their cooperation for a joint project to develop the KF-21 fighter jet, the South's arms procurement agency said Monday.
Seok Jong-gun, minister of the Defense Acquisition Program Administration, and Donny Ermawan Taufanto, Indonesia's deputy minister of defense, discussed the joint development project, as well as other arms cooperation agenda items, during their meeting in Jakarta on Friday, DAPA said.
South Korea's defense authorities approved a plan last year to reduce Indonesia's contribution to the project to build the advanced supersonic fighter by 2026 to 600 billion won ($409 million) from the original amount of 1.6 trillion won, following Jakarta's repeated payment delays.
Indonesia initially agreed to pay about 20 percent of the 8.1 trillion-won program launched in 2015 in return for technology transfers and one prototype model, among other conditions.
The project had also been hampered by technology leak allegations involving a team of Indonesian engineers dispatched to South Korea.
"As the first high-level meeting that took place after the probe into Indonesian engineers, the talks served as an occasion for normalizing bilateral arms cooperation that had slightly been strained," Seok said, vowing to use it as "momentum" to expand cooperation with the Southeast Asian nation.
Taufanto was quoted as highlighting the competitiveness of South Korean arms equipment, such as the KT-1 and T-50 aircraft, and stressed the country is "faithfully" carrying out contracts and maintaining cooperative ties in various areas, according to DAPA. (Yonhap)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Finance chiefs of S. Korea, Vietnam reaffirm enhancing economic cooperation
Finance chiefs of S. Korea, Vietnam reaffirm enhancing economic cooperation

Korea Herald

time3 hours ago

  • Korea Herald

Finance chiefs of S. Korea, Vietnam reaffirm enhancing economic cooperation

Finance Minister Koo Yun-cheol met with his Vietnamese counterpart, Nguyen Van Thang, in Seoul on Tuesday, reaffirming commitment to enhancing the countries' bilateral economic cooperation, the finance ministry said. During the meeting, Koo introduced South Korea's vision to transform its economy into a "super innovation economy" through the development of cutting-edge technologies, including artificial intelligence, the ministry said. In response, the Vietnamese minister highlighted Vietnam's strong economic growth, as well as recent government restructuring aimed at strengthening economic cooperation. He also voiced hopes for deepened collaboration with South Korea, considered a leader in advanced technologies, and requested continued interest and support, according to the ministry. On Monday, President Lee Jae Myung and Vietnam's top leader, To Lam, agreed to boost bilateral trade to $150 billion by 2030, amid shared efforts to expand cooperation in response to global trade uncertainties. (Yonhap)

KT teams up with Viettel to target Southeast Asia's AI market
KT teams up with Viettel to target Southeast Asia's AI market

Korea Herald

time5 hours ago

  • Korea Herald

KT teams up with Viettel to target Southeast Asia's AI market

KT, one of Korea's leading telecom carriers, said Tuesday it has signed a partnership agreement with Viettel Group, Vietnam's largest telecom operator, to expand collaboration in artificial intelligence and AI transformation, or AX, in the Southeast Asian region. The deal pushes forward a joint project from the two companies' May agreement, taking it into the implementation stage. KT CEO Kim Young-shub and Viettel Chairman and CEO Tao Duc Thang attended a signing ceremony held at KT's Gwanghwamun building in Seoul on Monday. Under the deal, KT and Viettel will cooperate in four core areas — development of a Vietnamese AI language model, creation of industry-specific AX platforms, expansion of the Southeast Asian AX ecosystem through global partnerships and cultivation of AI talent via the planned Global AX Innovation Center. 'This collaboration goes beyond technology to help secure Vietnam's future growth engines, as KT works with Viettel to open a new AI era together,' Kim said. The partnership also includes joint research on AI-based cybersecurity solutions to combat voice phishing and deepfake crimes, with data and technology sharing between the two nations. At the Korea–Vietnam Business Forum, the two firms presented their cooperation as a model for joint growth with companies with AX capabilities.

Seoul shares drop for 3rd day ahead of US inflation data
Seoul shares drop for 3rd day ahead of US inflation data

Korea Herald

time6 hours ago

  • Korea Herald

Seoul shares drop for 3rd day ahead of US inflation data

South Korean stocks fell for the third consecutive session Tuesday as investors stayed cautious ahead of US inflation data, a key barometer of the Federal Reserve's monetary policy. The local currency slipped slightly against the US dollar. The benchmark Korea Composite Stock Price Index lost 16.86 points, or 0.53 percent, to close at 3,189.91. The index has remained in negative territory since Friday. Trade volume was moderate at 369.6 million shares worth 10.05 trillion won ($7.2 billion), with decliners beating gainers 547 to 343. Foreign and institutional investors sold a net 60.05 billion won and 98 billion won worth of stocks, respectively, while individuals bought a net 63.5 billion won. Analysts noted that investors were awaiting US consumer price data due Tuesday (US time), which could provide clues on the Federal Reserve's future interest rate path. "Investors are waiting to see as the figures could prompt a possible rate cut by the Federal Reserve," Lee Jae-won, an analyst at Shinhan Securities Co., said, noting the US consumer price data is set to be released at 9:30 p.m. (Seoul time). Investors are also waiting for the outcome of consultations between the government and the ruling party on scrapping earlier plans to tighten capital gains tax rules. Energy, shipbuilding and entertainment shares led the decline. Doosan Enerbility slumped 5.62 percent to 65,500 won, and Korea Electric Power Corp. lost 1.15 percent to 38,550 won. Major shipyard HD Korea Shipbuilding & Offshore Engineering dropped 2.06 percent to 356,000 won, while Hanwha Ocean retreated 2.8 percent to 104,000 won. Entertainment giant CJ ENM skidded 0.8 percent to 74,400 won, and K-pop powerhouse Hybe dipped 2.42 percent to 282,000 won. Top-cap Samsung Electronics rose 0.14 percent to 71,100 won, with its chipmaking rival SK hynix gaining 0.75 percent to 269,000 won. Major gamemaker NCSOFT soared 10.12 percent to 223,000 won on its better-than-expected second-quarter earnings report. The local currency was quoted at 1,389.9 won against the greenback at 3:30 p.m., down 1.9 won from the previous session. (Yonhap)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store