Seoul: The state arms procurement agency on Tuesday launched a 435.9 billion-won project (US$296 million) to develop short-range air-to-air guided missiles to be equipped on South Korea's homegrown KF-21 fighter jets.

According to Yonhap News Agency, the plan aims to develop guided missiles for homegrown fighter jets by 2032. This initiative seeks to diversify the weapons systems for South Korea's fighter jets and increase arms exports, as stated by the Defense Acquisition Program Administration (DAPA).

Local defense firms, including LIG Nex1 Co. and Hanwha Aerospace Co., are anticipated to participate in the development project, which will be led by the Agency for Defense Development. The envisioned missile is expected to be a significant milestone in advancing South Korea's airborne weapons systems and expanding the nation's defense industry in the aviation sector, as noted by a DAPA official.