S.Korea to receive final bid for 7.4 bln USD fighter jet deal

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SEOUL, Aug. 5 (Xinhua) -- South Korea's arms procurement agency planned to receive a final bid next week for an 8.3 trillion won (7.4 billion U.S. dollars) deal to buy 60 fighter jets, the largest arms import contract in the nation's history, an official said Monday.

"The final bidding will be held between Aug. 13 and 16, except for the Aug. 15 Liberation Day holiday," an official at the Defense Acquisition Program Administration (DAPA)'s spokesman office said by phone.

Three combat planes, including Lockheed Martin's F-35 stealth jet, Boeing's F-15 Silent Eagle and the Eurofighter Tranche 3 Typhoon of the European Aerospace Defense and Space Company (EADS), have been competing for the contract.

All the three aerospace giants have failed in the previous biddings due to higher prices than the 8.3 trillion won budget approved by the parliament.

The DAPA official told Xinhua that possible failure of the planned bidding may lead to re-examination of the project from the starting point, noting that all options would be available such as the cut in the number of jets to be bought, purchases in installments and an increase in state budget.

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