But two pilots aboard were confirmed safe as they managed to eject themselves from the double-seat jet when it veered off the runway at Eielson Air Force Base.
According to a military source, the two pilots are "safe" and have been reportedly transferred to a nearby hospital there.
While the extent of the damage has yet to be determined, the South Korean military is working with the U.S. to identify the exact cause of the incident and assess the damage.
Launched in 1975, the annual Red Flag exercise involves the U.S. and its allied air forces in intensive simulated training to enhance combat readiness.
South Korea has been participating in the exercise since 2013, with the Air Force deploying about a dozen aircraft this year including KF-16 fighter jets and multi-purpose aerial refueling tankers.
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