F-X Bidders Fail To Meet Seoul Budget Limit
South Korea has temporarily suspended bidding its fighter jet project worth on a $7.3 billion only four days after reopening applications because bidders failed to meet the budget limit, Yonhap news agency reported on Saturday.
Lockheed Martin’s F-35A, Boeings F-15SE and EADS's Eurofighter Typhoon are the final three remaining in the competition.
South Korea has been vying to procure 60 next-generation fighter jets between 2017 and 2021, to replace its aging fleet of F-4 and F-5 jets.
South Korea's Defense Acquisition Program Administration (DAPA) has received 55 separate price bids since the opening of tenders, Yonhap reported.
DAPA will soon decide whether to halt bidding or resume with additional bids for the project.
"There is a need to carefully check the bids placed so far before making a decision to move forward," said a DAPA official was quoted as saying.
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