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Saturday, August 17, 2013

S. Korea's fighter jet project becomes two-way race

Eurofighter TyphoonIn a last-ditch effort to win South Korea's fighter jet project, two of the three bidders -- Boeing and EADS -- offered proposals below the state budget of 8.3 trillion won (US$7.2 billion) during the final bidding on Friday, government officials and industry sources said.

The third company, Lockheed Martin, selling its F-35 stealth jets through the foreign military sales (FMS) program, offered a price higher than Seoul's budget, according to sources, effectively being eliminated from the race to win the country's largest arms procurement deal.

As the bidding process ended, the Defense Acquisition Program Administration (DAPA) will conduct a comprehensive assessment of the jets and officially announce the winner next month.

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