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Monday, November 11, 2013

S.Korea to set fighter jet auction terms late Nov

F-35 Lightning IISouth Korea will set the terms of a multi-billion dollar fighter jet auction in late November - an auction likely to favour Lockheed Martin Corp but which will also be watched by rivals to see if they will get a share of the pie.

Sources familiar with the matter also said the air force requested enhanced stealth capability on Monday.

The move was expected after the government in September bowed to public opinion and voted down a bid by Boeing to supply 60 warplanes, saying it would restart the the 8.3 trillion won ($7.8 billion) tender process to get a more advanced, radar-evading jet.

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