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Tag Archives: South Korea

State Dept OKs South Korea’s Request for $2.5B in F-16 Upgrade Services

South Korea plans to modernize the country’s KF-16 fighter aircraft fleet through a potential $2.5 billion foreign military sales deal approved by the U.S. State Department. Lockheed Martin (NYSE: LMT) and Northrop Grumman (NYSE: NOC) will be the prime contractors for the planned modernization of 134 KF-16C/D Block 52 jets, …

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South Korea Selects Airbus Tanker Jet for Military Aircraft Refueling

South Korea has ordered four aerial refueling tanker jets from Europe-based aircraft manufacturer Airbus, adding to the company’s portfolio of international customers, the Wall Street Journal reported Tuesday. Jeyup Kwaak and Robert Wall write that other buyers of Airbus’ A330 MRTT or multirole tanker transport include Australia, Saudi Arabia, Singapore, the U.K. …

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State Dept Clears $2B in Foreign Arms Sales With South Korea, Lebanon

The State Department has approved two separate foreign military sale agreements worth approximately $2.37 billion combined for South Korea to purchase the Aegis Combat System and Lebanon to buy A-29 Super Tucano aircraft. The Defense Security Cooperation Agency said Tuesday the principal contractors on the $1.91 billion Aegis sale to South Korea are Lockheed Martin (NYSE: LMT), …

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Raytheon Secures $46M Northrop Subcontract Work for S. Korea Global Hawk

TYSONS CORNER, VA March 31, 2015 — Executive Mosaic — Raytheon (NYSE: RTN) has won subcontract work from Northrop Grumman (NYSE: NOC) to provide stationary and mobile ground stations to support four of South Korea’s Global Hawk aircraft, ExecutiveBiz reported Monday. Work under the $46 million contract will occur in Dulles, Virginia, through …

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South Korea Taps Lockheed, Raytheon for Fighter Jet and Missile Programs

Lockheed Martin (NYSE: LMT) and partner Korea Aerospace Industries have won a $7.88 billion contract to build a mid-level fighter jet for South Korea, Reuters reported Monday. Joyce Lee writes the companies will jointly develop jets meant to replace the Asian ally’s F-4 and F-5 fighters by 2025 under the KF-X fighter …

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Northrop Taps Brian Kim, Jack Dorsett for Chief Executive Roles in East Asia

Northrop Grumman (NYSE: NOC) has appointed former Boeing (NYSE: BA) executive Brian Kim as chief executive for South Korea and former Northrop information systems executive Jack Dorsett as CEO for Japan. Northrop said Monday Kim will oversee the company’s programs, growth strategies and business relationship with South Korea beginning Feb. 2. He worked for five …

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Northrop Receives USAF Order of Global Hawk UAVs for South Korea

The U.S. Air Force will supply South Korea with four Northrop Grumman-built (NYSE: NOC) RQ-4B Block 30 Global Hawk unmanned aerial vehicles, two spare engines and ground control environment components under a foreign military sale worth $657.4 million. The Defense Department said Tuesday that Northrop will also equip the aircraft with the Enhanced Integrated Sensor Suite. The sale …

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South Korea to Buy 40 Lockheed F-35 Jets for $7B, Acquire Jet Production Tech

South Korea will acquire 40 Lockheed Martin (NYSE: LMT) F-35A aircraft and receive fighter jet production technologies from the company under a $7.04 billion deal with the U.S. government, the Yonhap News Agency reported Wednesday. The new planes will replace the country’s old fleet of F-4 and F-5 jets and the F-35s will cost around $115.3 million …

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Report: US, South Korea Discuss BAE F-16 Upgrade Contract’s 2nd Phase

BAE Systems could receive $1 billion of work to upgrade 134 South Korea’s F-16 fighter jets as the U.S. and South Korean governments work to finalize the second phase of of a foreign military sales contract between both companies, Reuters reported Friday. Andrea Shalal writes that the U.S. Air Force wants to finalize the pricing …

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South Korea to Partner with Lockheed on Fighter Jet Development

South Korea is planning to buy Lockheed Martin (NYSE: LMT)-built F-35 fighters for nearly $7.1 billion, Reuters reported Friday. Joyce Lee writes the acquisition proposal for 40 F-35 jets is set to complete in the third quarter of 2014. South Korea’s Joint Chiefs of Staff are also pushing for an estimated …

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