South Korea launched project for developing European Meteor air-to-air missile analog, which has engagement range up to 200 km, and which currently serves on South Korean KF-21 Boramae "4.9 generation" fighters.
Two parties currently compete for victory in this project and subsequent contract receipt: Hanwha Aerospace company and consortium of Hyundai Rotem and LIG Defense & Aerospace companies. Local publication Seoul Economic Daily writes about this.
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Overall project cost is estimated at 1.9 trillion won (approximately $1.4 billion). Of this, Korean Meteor analog development accounts for $555.8 million, while production deployment accounts for another $846.1 million.
Recall South Korea plans to complete development of its Meteor analog by 2033, and wants to begin serial production already in 2035. Meaning from development start to receiving full serial missile they calculate only 9 years will pass.
For comparison, in Europe Meteor development proceeded in genuinely anti-record timelines. Therefore from conceptual work start to receiving real combat-ready missile, Europeans took 21 years. But not excluded South Korean analog development may also encounter certain problems and ultimately be significantly delayed.
Regarding South Korean missile itself, by announced data it will fully correspond to original Meteor. It will have engagement range up to 200 kilometers, as well as maximum speed of approximately Mach 4 (4,900 km/h).

Such speed will be achieved thanks to solid-fuel ramjet engine. Compared to conventional solid-fuel jet engine, it operates significantly longer, accordingly maintaining maximum speed longer and expanding so-called No Escape Zone, from which target can no longer exit beyond engagement range.
This future missile in South Korea is specifically planned for installation on KF-21 Boramae "4.9 generation" fighters. Thanks to this they will not only become less dependent on foreign supplies but in South Koreans' opinion should become more attractive for foreign buyers.
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