DTN News - KOREAN DEFENSE NEWS: Korea To Sign Deal To Buy F-35 Jets By Sept.
Source: DTN News - - This article compiled by K. V. Seth from reliable sources By Kang Seung-woo - Korea Times
(NSI News Source Info) TORONTO, Canada - January 28, 2014: Korea plans to sign a multibillion-dollar deal to buy 40 F-35 Lightning II fighter jets by the end of September, the nation’s arms procurement agency said Monday.
The price for the stealth aircraft from Lockheed Martin is estimated at 7.4 trillion won.
“Once the Defense Acquisition Program Executive Committee approves the revised purchase plan between February and March, we will push to sign a deal by the end of September after conducting flight tests and negotiations,” said Air Force Brig. Gen. Jung Kwang-sun, director of the Defense Acquisition Program Administration’s (DAPA) aircraft department, at a press briefing.
The military’s decision-making committee voted down Boeing’s F-15 Silent Eagle in the 8.3 trillion won F-X III due to its lack of stealth capability in September last year. And the Joint Chiefs of Staff decided to purchase 40 radar-evading warplanes in November for deployment from 2018 to 2021, making the Lockheed Martin product the lone candidate. It also said that an additional 20 fighters will be acquired later, depending on the security situation.
DAPA reportedly carried out research regarding the price tag for the 40 aircraft, and ended up with 7.4 trillion won. The price includes maintenance and armament worth 700 billion won.
The state-run Korea Institute for Defense Analyses will conduct another analysis to confirm the program budget, which will be confirmed by the finance ministry after consultations.
Without an open bid, DAPA is likely to buy the under-development aircraft through the foreign military sales program, which manages government-to-government sales, despite being feared to restrict Lockheed from technology transfers and industrial cooperation.
The long-delayed F-X III competition requires 60 highly-capable aircraft to replace the Korean Air Force’s aging fleet of F-4s and F-5s. The European Aeronautic Defense and Space Company’s (EADS) Eurofighter Typhoon and the Silent Eagle also vied for the deal.
*Link for This article compiled by K. V. Seth from reliable sources By Kang Seung-woo - Korea Times
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