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South Korea to Reassess Fighter Jet Deal


South Korea's Defense Ministry spokesman Kim Min-seok attends a briefing at the Defense Ministry in Seoul, Sept. 24, 2013.
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.

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