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S. Korea-Indonesia joint fighter development cost lowered, KF-X designated as defense product Updated: 2021-11-15 18:12:39 KST

The total cost of a joint fighter development project between South Korea and Indonesia has been lowered to around six.nine billion U.S. dollars from seven.three billion, as the warplane has been designated as a defense product eligible for a tax exemption.
Here in the nation, an item classified as a defense product is exempt from VAT.
According to Seoul's Defense Acquisition Program Administration, Indonesia will now pay around one.four billion dollars for its share of costs, down almost 85 million dollars.
The latest deal includes Jakarta's pledge to shoulder 20 percent of the KF-X cost and make in-kind payments for 30 percent of its share.
KOGL : Korea Open Government License
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