South Korea Taking Proposals for NextGen Fighter Jet, Lockheed’s F-35 Included

South Korea has selected Lockheed Martin Corp. (NYSE: LMT), Boeing (NYSE: BA) and EADS to submit proposals for the country’s next generation of fighter jets, MSNBC reported Monday.

The country is willing to spend nearly $7.4 billion over a nine-year period on stealth fighters. Prospective planes include Lockheed’s F-35 and EADS’ Eurofighter Typhoon, according to MSNBC.

Japan recently ordered 42 of Lockheed’s F-35 jets in an estimated $4 billion purchase.

South Korea’s administration program for defense acquisition will accept proposals through June 18.

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