JAKARTA/SEOUL, (Joint Press Corps-Yonhap) -- Korea Aerospace Industries (KAI), a South Korean defense firm, signed a contract worth 100 billion won ($89.4 million) with Indonesia on Thursday, its officials said.
The company inked the contract to export three KT-1B trainer aircraft and install radar equipment and guns on the Indonesian Air Force's T-50i planes on the sidelines of the Indo Defence 2018 Expo & Forum in Jakarta.
Top officials from Korea Aerospace Industries and Indonesia's defense ministry sign an export contract on the sidelines of the Indo Defence 2018 Expo & Forum in Jakarta on Nov. 8, 2018, in this photo provided by the Joint Press Corps. (Yonhap)
KAI is to deliver the KT-1Bs within 28 months of the contract's implementation, and it will complete the T-50i project within 25 months.
KAI exported the KT-IB overseas three times between 2001 and 2008. Indonesia's military is known to use the KT-1B for basic training as well as for air show programs.
The company has been pushing to export its Surion utility helicopters and FA-50 light attack fighters to the Southeast Asian country.
A day earlier, Daewoo Shipbuilding & Marine Engineering Co. signed a contract with PT PAL, an Indonesian state-owned firm, to form a consortium in an effort to win a project to build three submarines.