South Korea boosts air defenses with about $6.8 billion budget for F-35s

South Korea expects to pay around 7.34 trillion won ($6.79 billion) for 40 Lockheed Martin F-35 fighter jets, two sources with knowledge of the matter said on Monday, as Seoul boosts its air defenses amid simmering tensions in the region.

South Korea also confirmed plans to buy four Northrop Grumman Global Hawk unmanned aircraft to monitor its prickly neighbor North Korea. The drones will cost about 880 billion won and will be delivered starting 2018, one of the sources said.

The defense deals also come as ties between Japan, China and South Korea have chilled over the past year, and the region's three powers look to beef up their defensive capabilities.

Read more