The KF-X advanced multirole jet fighter project, intended to produce modern warplanes to replace South Korea's aging F-4D/E Phantom II and F-5E/F Tiger II aircraft, was first announced in March 2001 by South Korean President Kim Dae-jung at a graduation ceremony of the Korea Air Force Academy. Research and development (R&D) requirements were determined by the Joint Chiefs of Staff in 2002. The project was felt to be extremely ambitious, with the Korea Institute for Defense Analyses (KIDA, a defense ministry think-tank) doubtful of the country's ability to complete the complicated project. The development phase had numerous delays and postponements and its economic cost was debated, but the project received renewed interest following a 2008 feasibility study and attacks by North Korea in 2010. Although the project carried risks and the expected per-unit cost would be significantly higher than purchasing from foreign manufacturers, the development of the domestic defense industry was deemed to be of national importance and was expected to have a ripple effect on high-tech industries.