Seoul to Buy W1.5 Trillion Worth of U.S. Interceptor Missiles

Seoul will purchase some W1.5 trillion worth of PAC-3 interceptor missiles from the U.S. (US$1=W1,094). The U.S. Defense Security Cooperation Agency last Thursday said that the State Department approved the sale of 136 PAC-3 missiles, including equipment, components, training, and support.

The major contractors are Lockheed Martin and Raytheon.

The PAC-3 is to form the core of Korea's air and missile defense system and intercepts incoming ballistic missiles at an altitude of 30-40 km. The entire project will cost an estimated W17 trillion.

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