Lockheed Martin and KAI secure $7.8 billion deal for South Korea's next gen fighter
Korea Aerospace Industries (KAI) and Lockheed Martin have been selected by the Defense Acquisition Programme Administration (DAPA) for the design and development of 120 indigenous fighter jets. The team beat out competition from Korean Air (KAL) and Airbus.
The 8.6 trillion won ($7.8 billion) deal will replace the country’s aging fleet of F-4s and F-5s. The new fighter, dubbed the KF-X, will receive funding from the South Korean government for development.
"We have chosen KAI as the pref...
To continue reading this story get free access