AGL 38.15 Decreased By ▼ -1.43 (-3.61%)
AIRLINK 125.07 Decreased By ▼ -6.15 (-4.69%)
BOP 6.85 Increased By ▲ 0.04 (0.59%)
CNERGY 4.45 Decreased By ▼ -0.26 (-5.52%)
DCL 7.91 Decreased By ▼ -0.53 (-6.28%)
DFML 37.34 Decreased By ▼ -4.13 (-9.96%)
DGKC 77.77 Decreased By ▼ -4.32 (-5.26%)
FCCL 30.58 Decreased By ▼ -2.52 (-7.61%)
FFBL 68.86 Decreased By ▼ -4.01 (-5.5%)
FFL 11.86 Decreased By ▼ -0.40 (-3.26%)
HUBC 104.50 Decreased By ▼ -6.24 (-5.63%)
HUMNL 13.49 Decreased By ▼ -1.02 (-7.03%)
KEL 4.65 Decreased By ▼ -0.54 (-10.4%)
KOSM 7.17 Decreased By ▼ -0.44 (-5.78%)
MLCF 36.44 Decreased By ▼ -2.46 (-6.32%)
NBP 65.92 Increased By ▲ 1.91 (2.98%)
OGDC 179.53 Decreased By ▼ -13.29 (-6.89%)
PAEL 24.43 Decreased By ▼ -1.25 (-4.87%)
PIBTL 7.15 Decreased By ▼ -0.19 (-2.59%)
PPL 143.70 Decreased By ▼ -10.37 (-6.73%)
PRL 24.32 Decreased By ▼ -1.51 (-5.85%)
PTC 16.40 Decreased By ▼ -1.41 (-7.92%)
SEARL 78.57 Decreased By ▼ -3.73 (-4.53%)
TELE 7.22 Decreased By ▼ -0.54 (-6.96%)
TOMCL 31.97 Decreased By ▼ -1.49 (-4.45%)
TPLP 8.13 Decreased By ▼ -0.36 (-4.24%)
TREET 16.13 Decreased By ▼ -0.49 (-2.95%)
TRG 54.66 Decreased By ▼ -2.74 (-4.77%)
UNITY 27.50 Decreased By ▼ -0.01 (-0.04%)
WTL 1.29 Decreased By ▼ -0.08 (-5.84%)
BR100 10,116 Decreased By -388.7 (-3.7%)
BR30 29,567 Decreased By -1659.1 (-5.31%)
KSE100 94,574 Decreased By -3505.6 (-3.57%)
KSE30 29,445 Decreased By -1113.9 (-3.65%)

South Korea will buy 40 Lockheed Martin Corp F-35 stealth fighter jets, the country's military chiefs decided on Friday, with the first delivery expected in 2018, settling a drawn-out process to beef up the country's defences. A Joint Chiefs of Staff meeting agreed that South Korea would be best served by buying warplanes with the most advanced stealth technology and electronic warfare capability.
The meeting of top brass modified required capabilities for a stronger deterrence against its rival North Korea. The two Koreas remain technically at war since the 1950-53 conflict ended in a truce rather than a peace treaty. Their decision will be put to a committee chaired by the defence minister for final approval.
"What fits into modified requirement operational capabilities is limited to that model," said defence ministry spokesman Kim Min-seok when asked if the military would choose F-35 given the revised requirements. Lockheed Martin was not immediately available for comment. The decision sets in motion the South's single biggest defence procurement.
South Korea was initially expected to give the green light to Boeing Co's F-15, as the aircraft was only the bidder among three fighter jets in the race to fall within Seoul's budget. Under South Korean law, only bids on or under budget are considered. But in September, South Korea decided to re-examine the terms of the 8.3 trillion won ($7.81 billion) tender to buy 60 fighter jets after rejecting Boeing's bid. At the time, South Korea mentioned its need for an advanced, radar-evading jet, later mirrored by the Air Force asking for enhanced technological requirements for the jets and bolstering the F-35's chances.
Boeing said in a statement it remained confident its F-15, "with its superior speed, range and payload, combined with cost and schedule certainty, is what Korea needs to meet its defence needs and address the growing fighter gap". The third bidder, Europe's Eurofighter was not immediately available for comment. South Korea's shift toward the F-35 has also been influenced by Japan's decision to order the stealth fighter, and China's development of indigenous stealth fighters.
There were concerns in South Korea that not acquiring a stealth fighter would result in a major capability gap vis-a-vis its neighbours. "One of the biggest reasons this programme was first envisioned was to strengthen the air force's power as nearby nations announced their plans to adopt stealth fighter jets," said Kim Jong-ha, Dean of the Graduate School of National Defence & Strategy at Hannam University. The remaining 20 fighter jets will be open to various models, the defence ministry spokesman Kim said, expected to be delivered from 2023.

Copyright Reuters, 2013

Comments

Comments are closed.