S. Korea To Sign $6.8B F-35 Lightning Procurement Deal

Law360, Washington (January 27, 2014, 3:30 PM EST) -- South Korea will sign an estimated 7.4 trillion won ($6.84 billion) deal to purchase 40 F-35 Lightning fighter jets from Lockheed Martin Corp. by the end of September, its defense acquisitions agency announced Monday.

Korea’s Defense Acquisition Program Administration said the deal to purchase the next-generation fighter jets would be completed some time in the third quarter of 2014, with procurement set to begin in 2018, according to reports by several Korean news outlets. In addition to the initial 40 fighter jets, the deal will also...
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