After failed bids, South Korea jet deal uncertain

07/12/2013 | Reuters

South Korea will soon decide whether to start over with its effort to fulfill a contract for 60 new fighter jets after companies bidding on the $7.3 billion deal failed to come in at the desired price. "If the auction falls apart, we will consider all possible options, possibly including splitting the purchase, and find the best solution," an official at the Defense Acquisition Program Administration said. Lockheed Martin, EADS and Boeing were among the bidders on the deal to replace the aging fighter fleet.

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