The Defense Department has outlined how potential sales of new fighter jets to South Korea would occur depending on which jet the country selects, Defense News reports.
Aaron Mehta reports Lockheed Martin (NYSE: LMT) is offering its F-35 Joint Strike Fighter, Boeing (NYSE: BA) is proposing its F-15SE Silent Eagle and Eurofighter is submitting its Typhoon for consideration.
Mehta reports the South Korean government is expected to award a contract for the new jets later this year.
If the government selects Lockheed, South Korea would by 60 F-35s and related equipment via a foreign military sale worth up to $10.8 billion, according to the report.
Boeing would sell its Silent Eagle through a $2.4 billion direct commercial sale if South Korea picks that plane, Mehta reports.