S. Korea and Indonesia finalize deal to cut Jakarta's payments for KF-21 fighter jet project: DAPA

South Korea and Indonesia have finally inked an agreement to reduce Jakarta's portion of the payment for the joint KF-21 fighter jet project launched back in 2015.

According to the Defense Acquisition Program Administration the deal was sealed in Jakarta this past Wednesday.

Under the initial plan Indonesia had agreed to shoulder some one-point-seven trillion Korean won for the project in return for technology transfer from South Korea.

Later Indonesia suggested slashing its share of payment to one-third of the original sum while cutting the level of tech transfer.

South Korea in response had accepted the suggestion but the two countries were unable to sign a revised contract amid a police probe into alleged technology theft by Indonesian engineers at KF-21 manufacturer the Korea Aerospace Industries.