South Korea has delayed finalizing a $7.7 billion deal to buy 60 fighter jets widely expected to go to U.S.-based Boeing Co., saying it will re-start the bidding process.
Tuesday's announcement is expected to set back the process of awarding the defense contract by about a year. Among the three top contenders - Boeing, U.S.-based Lockheed Martin, and European consortium EADS - Boeing was the only one to submit a bid that fell within the South Korean budget.
Members of the South Korean military had expressed fears that Boeing's F-15 Silent Eagle failed to meet the military's operational requirements.
Some information for this report was provided by AFP and Reuters.
Tuesday's announcement is expected to set back the process of awarding the defense contract by about a year. Among the three top contenders - Boeing, U.S.-based Lockheed Martin, and European consortium EADS - Boeing was the only one to submit a bid that fell within the South Korean budget.
Members of the South Korean military had expressed fears that Boeing's F-15 Silent Eagle failed to meet the military's operational requirements.
Some information for this report was provided by AFP and Reuters.
