Korean Information Service, Korea is close to clinching contracts with Singapore, Greece, and the United Arab Emirates (UAE) for the sale of its T-50 Golden Eagle supersonic trainer jets, a senior defense industry official said Monday (Oct. 15).
“Korea is expected to sign the deals with the three nations this month or next month,” said Yoon Cha-young, executive director of the Korea Aerospace Industries Association.
He said the UAE will likely procure more than 60 T-50s, while Singapore and Greece are considering buying 30 and 40 jets, respectively.
Korea developed the T-50 with its own technology and each jet is priced around $20 million.
Yoon, who also serves as co-chairman of the organization committee for the Seoul air show, added this year's event will serve as a “turning point” for the country's efforts to export its advanced weapons such as T-50, KT-1 Woongbi basic trainer plane, XK-2 tank, K-9 self-propelled howitzer, and Cheonma self-propelled surface-to-air missile.
“For more than 20 years, shipbuilding, automobiles, and information technology products have been Korea's major export items. But from now on, the defense industry will emerge as our main export field,” Yoon said during a press briefing held in Seongnam, South of seoul, on the eve of the opening of the six-day air show.
He emphasized that this week's air show will be a good opportunity for Korea to market its weapons. “We expect more than $500 million worth of export contracts during the air show,” he said.
Officially named “Korea Aerospace & Defense Exhibition 2007,” this year's show brings together 256 defense firms from 26 countries.
“In particular, only 86 of the participants, or 30 percent, are domestic companies, with the rest coming from foreign nations,” said Yoon, formerly an Air Force brigade general.
Korea has hosted the event, which is becoming Asia's largest defense fair, every two years since 1996.
To be displayed include the F-15C and F-16C fighter jets and A-10 anti-tank aircraft of the U.S., AH-64 Apache chopper, K-135 tanker, as well as South Korea's F-15K and KF-16 aircraft.
