South Korea is building its first aircraft carrier

South Korea is set to start building its first aircraft carrier next year, and acquire fighter jets to operate on it.

South Korea had said last year that it would build a "multi-purpose large transport vessel." But in its national plan for 2021-2025, published this week, the government for the first time explicitly committed to building the billion-dollar equipment.

"The 30,000-tonne level aircraft carrier can transport military forces, equipment and materials and can operate fighter jets that are capable of vertical take-off and landing," the Defense Ministry said in a press release.

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"It will enable the military to more effectively suppress threats and dispatch forces and materials to a disputed region in the sea by playing a role of a controlling vessel for the navy unit."

South Korea is expected to purchase US-made F-35B fighter jets, which have short takeoff and vertical landing capability, compatible with a small aircraft carrier. F-35Bs are the only short take-off and vertical landing fighter jets in production in the world.

The country will join Japan and the United States in deploying F-35Bs on light aircraft carriers in the western Pacific.

South Korea didn't give a cost estimate for the light aircraft carrier, but US government reports price a new version of the USS America -- which is 25% to 30% bigger than the South Korean ship -- at almost $4 billion. F-35B fighter jets cost about $122 million each.

In acquiring the F-35Bs, South Korea joins the US, Japan and the UK as the only countries with the versatile stealth fighters, which manufacturer Lockheed-Martin says "redefines the multi-role fighter."

F-35Bs are fifth-generation stealth jets, capable of carrying two air-to-air missiles and two 1,000-pound guided bombs in their internal weapons bays.