Seoul, April 1 : South Korean President Lee Jae Myung held summit talks with Indonesian President Prabowo Subianto on Wednesday to discuss bilateral ties, with defense industry cooperation expected to be high on the agenda.

Prabowo arrived in Seoul on Tuesday for a three-day state visit for his second meeting with Lee, following their talks on the sidelines of the Asia-Pacific Economic Cooperation summit in South Korea last year.

The talks are expected to focus on expanding defense industry cooperation, particularly the joint development of the KF-21 fighter jet, which Lee has described as a "model example" of global defense cooperation.

South Korea plans to sign a deal to export 16 KF-21 jets to Indonesia, which would mark the country's first overseas sale of indigenous fighter jets.

They are also expected to discuss ways to strengthen South Korea's relations with the Association of Southeast Asian Nations (ASEAN), along with broader security and global issues, including the Korean Peninsula and the Middle East, according to presidential spokesperson Kang Yu-jung.

Indonesia, a key ASEAN member with the world's fourth-largest population and abundant natural resources, is considered a strategic partner for South Korea, Yonhap news agency reported.

During their meeting, Lee plans to award Prabowo the Grand Order of Mugunghwa, South Korea's highest honor, in recognition of his contributions to strengthening bilateral ties, including support for Korean companies operating in the Southeast Asian nation, Kang said.

He will also present Prabowo with a traditional Korean bow set and a martial arts book from the Joseon Dynasty (1392-1910), reflecting the Indonesian president's strong interest in martial arts, shaped by his background as a former Army general and defense minister, she added.

Seoul and Jakarta initially formed a partnership to develop the fighter jet in 2015, with Jakarta agreeing to fund around 20 per cent of the project in exchange for technology transfer. But payments were repeatedly delayed, and the two sides later agreed to reduce Indonesiaâ??s contribution to one-third of the initial amount and lower the level of technology transfer.

/IANS