SEOUL– Korea Aerospace Industries Co. (KAI), South Korea’s sole aircraft manufacturer, said Friday it has sealed a deal with the state arms procurement agency to develop new reconnaissance planes.
Under the deal with the Defense Acquisition Program Administration, KAI will develop four reconnaissance planes by the end of 2026 to replace old ones for the South Korean Air Force.
The deal is estimated at around 800 billion won (US$674 million).
KAI said it will convert four Falcon 2000LXS business jets from French aircraft manufacturer Dassault Aviation into intelligence, reconnaissance and surveillance aircraft.
KAI and Dassault signed a memorandum of understanding for the project at the Seoul International Aerospace & Defense Exhibition in October.
The project is “one of the core businesses to strengthen the military’s combat capabilities and develop the country’s aerospace industry,” KAI said in a statement.
Source: Yonhap News Agency