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Tuesday, January 28, 2014

S.Korea to sign jet deal in Q3, signals commitment to Lockheed F-35s

F-35 Loghtning IISouth Korea plans to sign a deal to buy 40 fighter jets in the third quarter, its arms procurement agency said on Monday, and its plan to acquire Lockheed Martin Corp F-35s appears on track despite possible development delays.

"With changes made in procurement plans from February to March, followed by committee approval, we will work to sign a contract around the third quarter," Jung Kwang-sun, the head of aircraft programmes at the Defense Acquisition Program Administration (DAPA), told reporters.

South Korea decided to redraw the terms of its 8.3 trillion won ($7.68 billion) tender to buy 60 fighters last year, reducing the number in December to an initial 40 jets after rebuffing Boeing Co's F-15s.

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