THE KOREA ECONOMIC DAILY, GLOBAL EDITION

South Korea’s homegrown fighter jet KF-21 is competing against US defense firm Lockheed Martin Corp.’s F-16 for the Philippine government’s multirole fighter (MRF) aircraft procurement project, with an estimated budget of up to 400 billion pesos ($6.95 billion).

According to industry sources on Friday, the KF-21, developed by Korea Aerospace Industries Ltd. (KAI), and the Lockheed Martin F-16 have been shortlisted in the Philippine Air Force’s MRF project.

The Philippine Air Force launched the MRF project in August to address China's growing threat in the South China Sea.

The project aims to procure about 40 multirole fighter jets with an estimated budget of 400 billion pesos. Of this, 61.2 billion pesos, or $1.1 billion, is allocated to purchase 10 combat planes.

According to Global Defense Corp., a military media outlet, the Philippines initially considered several aircraft, including Korea’s KF-21, Lockheed Martin’s F-16, Sweden’s Saab Gripen, France’s Rafale and Europe’s Eurofighter Typhoon, for the project. But Lockheed Martin’s F-16 and KAI’s KF-21 have been shortlisted, setting the stage for a two-way competition.

Sources said the Philippine government has asked KAI, Korea’s only military aircraft manufacturer, to submit detailed information about the KF-21.

If KAI wins the Philippine deal for the 10 aircraft, it would mark Korea’s first export of the KF-21.

KF-21: CHEAPER BUT TECHNICALLY MORE ADVANCED

The sticker price of a KF-21 fighter jet is estimated at 98 billion won ($71.5 million). That's some 50 billion won, or $36.5 million, cheaper than the Eurofighter Typhoon or the French Rafale.

The KF-21 combat plane, dubbed a 4.5-generation jet because of its partial stealth function, boasts a maximum payload of 7,700 kilograms and 10 pods for air-to-air missiles and other weapons. It can reach a speed of 2,200 kph with a flying range of 2,900 km.

Powered by GE Aerospace’s F414 engine, the KF-21 is also equipped with advanced electronic warfare systems such as AESA radar.

Lockheed Martin’s F-16 is estimated to cost $43 million per unit.

First deployed in 1978, the US fighter jet has since sold over 4,500 units to 25 countries, making it one of the world’s best-selling fighter jets.

The F-16, however, is classified as a fourth-generation fighter jet, lacking stealth capabilities and advanced electronic warfare systems. It is equipped with an F404 engine, an earlier version of the F414 engine.

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The Philippine Air Force is reportedly interested in eventually acquiring Lockheed Martin’s F-35, considered the best-performing fighter jet in deployment.

Industry officials said the Southeast Asian country may want to secure the F-16 first, then transition to the F-35.

However, the US government strictly controls the sale of the F-35, deemed a key US strategic asset. Countries like the United Arab Emirates and Turkey have tried to acquire it but were denied.

KOREA’S FIGHTER JET EXPORT RECORDS

Sources said KAI is appealing to the Philippine government by highlighting the successful exports of its FA-50 light fighter jets.

KAI exported 12 FA-50s to the Philippines in 2014 and has since been providing logistical and military support, including maintenance, repair and overhaul (MRO) services.

KAI has also sold KF-50 light fighter jets to Poland, Malaysia and other countries.

“KAI will offer similar services, including a system and weapons upgrade, for the KF-21 if the Philippines decides to buy it,” said an industry official.

The KF-21 is currently only capable of air-to-air combat and does not yet have air-to-ground capabilities.

KAI plans to develop air-to-ground combat capabilities and begin mass production of upgraded versions by 2028.

Nicknamed Boramae, the KF-21 is a joint project between Korea and Indonesia to develop a next-generation supersonic fighter plane using Korean homegrown technology for key components.

KAI unveiled a prototype of the KF-21 fighter jet in April 2021.

According to the Defense Acquisition Program Administration (DAPA), Korea’s state-run arms procurement agency, KAI is expected to begin mass production of the new warplane by the end of this year, for initial delivery to the Korean Air Force in the second half of 2026.

Korea aims to become the world’s third-largest defense exporter within five years, moving up from the No. 10 player at the end of 2021.

Write to Hyeon-woo Oh at ohw@hankyung.com
In-Soo Nam edited this article.