S Korea to Buy 40 F-35 Jets

S Korea to Buy 40 F-35 Jets

South Korea will sign a deal this month to buy 40 Lockheed Martin Corp (LMT.N) F-35 fighter jets for about 7.34 trillion won ($7.06 billion) for delivery in 2018-2021, two people with knowledge of the transaction told Reuters on Wednesday.
South Korea in March became the 10th country to choose F-35 fighter jets, with which it will replace aging warplanes and flexes its against North Korea.
South Korea has since conducted tests and negotiations, and dismissed concerns stemming from an engine fire on a U.S. Air Force F-35A jet in June that grounded the entire F-35 fleet for several weeks.
The US government’s head of the F-35 program said in an official document to the South Korean government that the engine failure was within the realm of possibility considered during development, one of the people said.
The F-35 program head also said the incident had no effect on the quality, price, delivery date and safety of the jets - a conclusion South Korea is viewing as a sort of guarantee, the person added.
“We have agreed to acquire 40 jets within the total budget and reflect all the terms negotiated during the 2013 competition,” South Korea’s Defense Acquisition Program Administration said in a statement on Wednesday.
South Korea decided to redraw the terms of an 8.3 trillion won tender to buy 60 jets last year after dropping an option to buy Boeing Co’s (BA.N) F-15s in favor of jets with stealth capabilities, later reducing the purchase to an initial 40 aircraft.
The South Korean agency did not have an official comment on the timing of the deal but has previously indicated the third quarter. Lockheed Martin did not have an immediate comment.


Short URL : http://goo.gl/UQWSZb

You can also read ...

Saudi Minister Tells Germany It Will Find Weapons Elsewhere
In an interview with German news agency DPA, Saudi Arabia’s...
Turkey Dismisses Dutch Armenian Genocide Vote
Turkey has dismissed the Dutch Parliament’s vote to recognize...
US Chief of Staff Kelly (L) and National Security Adviser McMaster
Longstanding friction between US President Donald Trump and...
Russia Will Consider Ceasefire in Syria
Russia is ready to back a UN Security Council resolution...
Australia’s Scandal-Hit Deputy PM Quits
Australia’s scandal-hit deputy leader Barnaby Joyce announced...
Myanmar Bulldozes Rohingya Villages After Cleansing Campaign
Myanmar has bulldozed at least 55 villages that were emptied...
UN Wants Prosecution for South Sudan War Crimes
A UN rights commission in South Sudan said Friday there was...
Ivanka Trump to Push for “Maximum Pressure” on N. Korea
Ivanka Trump told South Korea’s president on Friday that she...