Top Business News

SEOUL, April 21 (UPI) -- A South Asiatic official refuted reports that state module swop quaternary CN-235 instrumentation bomb as partial payment toward 16 T-50 jet trainers.

A local newspaper reportable that state wants South peninsula to buy quaternary CN-235 maritime guard and instrumentation bomb in convey for its purchase of South Korea's indigenous T-50s.

"(South) Korea's shore guard already purchased quaternary CN-235 planes in 2008 supported on our needs," Kim Hee-jung, spokeswoman for South Asiatic President Lee Myung-bak, said. "I crapper assure you there is no swop care of any kind."

Indonesia's CN-235 is a medium-range, twin-turboprop bomb matured and shapely by Spain's CASA and PT Dirgantara Indonesia, erst titled IPTN.

South peninsula has 20 CN-235 aircraft, most of them shapely in Spain. But eight were shapely in state and Seoul purchased those under a swop care in 2001 in convey for commerce Jakarta 12 KT-1 Woongbi base trainers.

The KT-1 is a South Korean-made, single-engine aeroplane matured by peninsula Aerospace Industries and the Agency for Defense Development. The KT-1 is the prototypal completely indigenous South Asiatic aircraft. It prototypal flew in 1991 and was inducted for South Asiatic military use in 2000.

Speculation arose most the T-50 and CN-235 swop care after South Korea's Ministry of National Defense said Jakarta informed Seoul that KAI, concern of T-50 Golden Eagles, module be named the desirable bidder.

If KAI is officially confirmed, it module be South Korea's prototypal export of the jets, which were matured in conjunction with Lockheed Martin. Lockheed financed 13 proportionality of the aircraft's development, KAI place in 17 proportionality and the South Asiatic government financed the rest.

Lockheed histrion Aeronautical Systems and KAI created the T-50 International Co., known as TFIC, to oppose export markets outside South Korea.

The T-50s module replace Indonesia's 38 old BAE Systems Hawk 53 trainers. More than 900 were made, prototypal by Hawker Siddeley from 1974-77, then by British Aerospace from 1977-99 before BAE Systems MAS division bought the business.

Other bidders for the care are the Aero Vodochody L-159 and Yakovlev Yak-130.

"Now that we have been selected as the desirable bidder, actual negotiations on toll and other terms module begin," Kim Min-seok, spokesman of the Defense Ministry, said.

Even with Lockheed's financial help and engineering expertise, the bomb has become in for critique for its toll of around $25 meg -- up to 20 proportionality more expensive than competitors' aircraft. The broad organisation cost holds back export income of the plane whose development over 13 years cost around $1.8 billion, critics say.

"Until now, the media has reportable that the (Indonesian) care module be worth $400 million, but I can't feature it's accurate," KAI President Kim Hong-kyung said. "The toll module be determined supported on negotiations. If negotiations travel quickly, they crapper be over within a period or two, but it haw take longer. I'd fuck to see alacritous progress."

The expected conveying date is 2013.

The next travel for state and South peninsula is for up to quaternary months of lessen and toll negotiations with KAI, which likely module allow some production of the T-50 in Indonesia.

South peninsula has tried to export the jets, which crapper be upgraded and utilised as light tactical multi-role fighters.

The United Semite Emirates and island have been fascinated in the plane in the past. Efforts module be made to delude T-50s to Israel, Polska and the United States, KIA's Kim said.

Importantly, the T-50 upbringing systems are fashioned to enable a smooth transition to more advanced fighters including the F-22 Raptor, F-35 Lightning II and the F-16 Fighting Falcon -- of which state has 10 and also which haw be due for upgrades.

The two-seater T-50 is an primeval 1990s design, supported on the Lockheed histrion F-16 Fighting Falcon, the trainer matured for forthcoming pilots of the F-16, which is utilised by South Korea.

The T-50 uses a General Electric F404 turbofan engine producing 17,700 pounds of thrust for a peak speed of Mach 1.4 to 48,000 feet altitude. The arrange is around 1,150 miles.