S. Korea re-invites foreign bids for fighter jet purchase project

Posted on: Apr. 24th, 2007 || Source: english.yonhapnews.co.kr | E-mail Article | Print Article

S. Korea re-invites foreign bids for fighter jet purchase project

SEOUL, April 23 (Yonhap) -- The defense procurement agency on Monday issued a public notice for its plan to invite foreign bids again on its plan to procure 20 advanced combat aircraft by 2012.

The move came after Boeing Co. of the United States has turned out to be the only company that has shown interest in the US$2.4 billion contract.

The Defense Acquisition Program Administration (DAPA) said that it will hold a formal explanation session for the project next Monday at its office in Seoul.

"Firms interested in it will have to submit bid proposals by 3 p.m. on May 10," a DAPA official said.

Initially, the bid had been expected to become a three-way competition, but Lockheed Martin and Eurofighter stayed away, apparently because they believed their chances of winning it were low.

South Korea's plan to buy additional advanced fighter jets is an extension of its FX project, in which it signed a deal to buy 40 F-15Ks from Boeing by 2008. Boeing has delivered 18 jets so far.

South Korea plans to select the successful bidder early next year for the purchase of 20 new fighter jets whose capacity is comparable to that of the F-15K.

If Boeing turns out to be the sole bidder again, South Korea is expected to enter into price bargaining with the company, sources said.
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