S.Korea, Indonesia to Hold Final Talks Over $593M Overdue KF-X Payment

South Korea and Indonesia will hold what could be the final round of negotiations over the latter’s payment of dues in the $7.4 billion (8.8 trillion won) KF-X project next week.

Officials from Korea Aerospace Industries (KAI) will meet with negotiators from Indonesia's defense ministry, informed sources told Yonhap News Agency.

Kang Eun-ho, head of the Defense Acquisition Program Administration (DAPA), is also expected to visit Indonesia from Tuesday to Thursday to join the Korean negotiation team -- in an apparent show of Seoul's resolve to settle the protracted issue.

Indonesia had initially agreed to shoulder 20% of the new fighter’s development cost. But it later stopped making payments, with the amount of the overdue payments currently standing at 704.1 billion won ($586 million).

During a parliamentary audit last month, DAPA chief Kang expressed confidence that the negotiations with Indonesia will be concluded by November.