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South Korea

South Korea cancels F-16 upgrade deal with BAE Systems: Pentagon

WASHINGTON Wed Nov 5, 2014 6:29pm EST
(Reuters) - The U.S. government on Wednesday said it had canceled, at the request of South Korea, a preliminary contract with the U.S. unit of Britain's BAE Systems (BAES.L) to upgrade 134 F-16 fighter jets, ending a major arms deal initially valued at $1.7 billion.

The unusual move, announced by the Pentagon's Defense Security Cooperation Agency, paves the way for South Korea to pursue a similar upgrade deal with Lockheed Martin Corp (LMT.N), the warplanes' original manufacturer.

South Korea to buy Apache Attack helicopters through FMS

REDSTONE ARSENAL, Ala. -- The Republic of Korea's Defense Acquisition Program Administration (DAPA) announced it will purchase 36 U.S. Army Apache (AH-64E) helicopters through Foreign Military Sales (FMS). The value of this FMS is estimated at $1.6 billion.

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