Boeing Co. (NYSE: BA) won an estimated $300 million performance based logistics contract to support the South Korean air force’s F-15K fleet, Boeing announced Wednesday.
South Korea’s defense acquisition program administration awarded the five-year contract.
Jim O’Neill, Boeing vice president and general manager of integrated logistics, said Boeing will manage life cycle costs and provide opportunities for South Korean industry.
Boeing’s industry partner Hyundai Glovis will provide in-country logistics handling and supply chain distribution activities.
Boeing will provide supply chain forecasting and management practices for supplier contracting and risk.
Boeing will also collaborate with customer maintenance depots and local industry.
Boeing said it partners with more than 20 South Korean companies and spends more than $220 million annually in this market.
The company has partnered with South Korean defense and aerospace industry for nearly 50 years and employs workers 190 people in the country.
