KAI targets to sell 1,000 units of FA-50 light attack aircraft worth $30 billion

Korea Aerospace Industries Ltd., South Korea’s sole military aircraft manufacturer, is seeking to sell 1,000 units of the FA-50 light combat aircraft worth 40 trillion won ($30 billion) over the next decade.

Ahn Hyun-ho, chief executive of the Korean aerospace and defense company, said at the Farnborough Airshow in Hampshire, England, on Thursday that the company is stepping up marketing efforts, particularly in European countries.

Interest in Korea’s advanced weapons system has heightened in Europe since the outbreak of the Russia-Ukraine war, and KAI is showing off an upgraded FA-50, which incorporates specifications requested by the NATO and EU member countries, he said.

“Starting with expected deals from Europe, we’ll redouble our efforts to achieve our goal of selling 1,000 FA-50s around the world,” the KAI CEO said at a news conference with Korean reporters at the air show.

The FA-50 is a variant of KAI's T-50 supersonic trainer jet, co-developed with Lockheed Martin Corp., using some of the US defense company's technologies.

KAI has exported the light attack aircraft to Iraq, the Philippines and Thailand. The Korean Air Force has been operating 60 FA-50s since 2014.

According to KAI, the FA-50 is compatible with the F-16 fighter jet operated by NATO member nations and optimized for training pilots for fifth-generation fighter jets such as the F-35.

Currently, the Korean defense company is manufacturing some 230 units of T-50 line of fighter jets, including the FA-50.

The FA-50, which flies at the maximum speed of Mach 1.5, is equipped with air-to-air and air-to-ground missiles and carries a range of precision munitions and radar systems.

MEGA-DEAL WITH POLAND IMMINENT

KAI said a number of countries, including Poland, have shown interest in the Korean-made aircraft to beef up their military capabilities following the Russian invasion of Ukraine.

Korea’s defense firms, including KAI, Hyundai Rotem Co. and Hanwha Defense Co., are poised to clinch a 10 trillion won deal with Poland as early as this month, people familiar with the matter said earlier this week.

The Polish government has been discussing procuring Hyundai Rotem’s K2 Black Panther, a next-generation main battle tank; KAI’s FA-50 light fighter aircraft; and Hanwha’s K9 self-propelled howitzers, Korean government sources said.

KAI is also keeping close tabs on the US market as the US government is seeking to purchase 280 fighter jets for the Air Force and 220 units of advanced fighter jets and tactical trainers for the Navy between 2024 and 2025.

Last month, KAI and Lockheed Martin signed a teaming agreement to enter the race for a US megaproject.

KAI’s ambitious plan to sell 1,000 FA-50 combat aircraft comes on the heels of Korea’s successful test flight on Tuesday of the KF-21 Boramae, the country’s first locally developed supersonic fighter jet.

With further flight tests and technological advancements, Korea aims to become the world’s eighth country to develop a homegrown advanced supersonic fighter jet.

The country plans to produce a total of 120 KF-21 jet fighters by 2032 to replace its aging fleet of F-4s and F-5s.

South Korea aims to become the world’s third-largest defense exporter within the next five years from the No. 10 player at the end of last year.

Write to Kyung-Min Kang and Dong-Hyun Kim at kkm1026@hankyung.com
In-Soo Nam edited this article.